Kadant (NYSE:KAI) Updates FY 2024 Earnings Guidance

Kadant (NYSE:KAI) 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:KAI) 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.

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

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.