Kadant (NYSE:KAI) Updates FY 2024 Earnings Guidance

Kadant (NYSE:KAIGet Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 9.930-10.130 for the period, compared to the consensus estimate of 9.930. The company issued revenue guidance of $1.0 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Kadant also updated its Q4 guidance to $1.90-2.10 EPS.

Kadant Stock Down 0.8 %

NYSE KAI traded down $2.65 on Thursday, hitting $333.06. The stock had a trading volume of 72,301 shares, compared to its average volume of 80,851. The business’s fifty day moving average price is $323.33 and its 200 day moving average price is $305.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.25 and a quick ratio of 1.40. Kadant has a 52-week low of $217.85 and a 52-week high of $363.40. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 34.27 and a beta of 1.21.

Kadant (NYSE:KAIGet Free Report) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.41. The company had revenue of $271.61 million during the quarter, compared to the consensus estimate of $266.38 million. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.69 earnings per share. Equities research analysts anticipate that Kadant will post 9.93 earnings per share for the current year.

Kadant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Thursday, October 10th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.28 annualized dividend and a yield of 0.38%. Kadant’s dividend payout ratio is presently 13.17%.

Analysts Set New Price Targets

KAI has been the topic of a number of research reports. Barrington Research reiterated an “outperform” rating and set a $360.00 target price on shares of Kadant in a report on Wednesday. DA Davidson lifted their price target on Kadant from $290.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

Read Our Latest Stock Report on Kadant

Insiders Place Their Bets

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction of $674,800.00. Following the sale, the director now directly owns 4,250 shares in the company, valued at approximately $1,433,950. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by company insiders.

About Kadant

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Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.

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Earnings History and Estimates for Kadant (NYSE:KAI)

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