Kadant (NYSE:KAI) Releases FY24 Earnings Guidance

Kadant (NYSE:KAI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $9.75-$10.05 for the period, compared to the consensus estimate of $9.98. The company issued revenue guidance of $1.040-$1.065 billion, compared to the consensus revenue estimate of $1.06 billion. Kadant also updated its FY 2024 guidance to 9.750-10.050 EPS.

Analysts Set New Price Targets

Several brokerages recently commented on KAI. Barrington Research reissued an outperform rating and set a $360.00 price objective on shares of Kadant in a research report on Monday. StockNews.com cut shares of Kadant from a buy rating to a hold rating in a research note on Thursday, January 4th.

Kadant Stock Performance

KAI traded down $13.37 during midday trading on Tuesday, hitting $273.79. 123,379 shares of the company traded hands, compared to its average volume of 92,549. The company has a quick ratio of 1.34, a current ratio of 2.05 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $3.21 billion, a PE ratio of 27.66 and a beta of 1.28. The company’s 50-day moving average is $311.80 and its 200 day moving average is $282.12. Kadant has a 52 week low of $183.67 and a 52 week high of $354.02.

Kadant (NYSE:KAI) last issued its quarterly earnings data on Wednesday, February 14th. The industrial products company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.31. Kadant had a net margin of 12.12% and a return on equity of 16.20%. The firm had revenue of $238.68 million for the quarter, compared to analysts’ expectations of $227.54 million. On average, research analysts expect that Kadant will post 9.96 EPS for the current year.

Kadant Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 10th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Tuesday, April 9th. This is a boost from Kadant’s previous quarterly dividend of $0.29. Kadant’s dividend payout ratio is 12.93%.

Insiders Place Their Bets

In other Kadant news, SVP Stacy D. Krause sold 881 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $327.00, for a total transaction of $288,087.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Jonathan W. Painter sold 7,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $330.25, for a total value of $2,311,750.00. Following the sale, the director now owns 7,615 shares in the company, valued at $2,514,853.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stacy D. Krause sold 881 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $327.00, for a total transaction of $288,087.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,798 shares of company stock worth $2,899,004. Company insiders own 1.40% of the company’s stock.

Kadant Company Profile

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.