Kadant (NYSE:KAI) Updates Q2 2024 Earnings Guidance

Kadant (NYSE:KAIGet Free Report) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.400-2.500 for the period, compared to the consensus earnings per share estimate of 2.530. The company issued revenue guidance of $258.0 million-$266.0 million, compared to the consensus revenue estimate of $266.1 million. Kadant also updated its FY 2024 guidance to 9.750-10.050 EPS.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Analysis on KAI

Kadant Trading Down 4.7 %

Shares of KAI traded down $13.37 during mid-day trading on Tuesday, hitting $273.79. 123,379 shares of the company’s stock 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 P/E ratio of 27.66 and a beta of 1.28. The business’s 50-day moving average price is $311.80 and its 200-day moving average price is $282.12. Kadant has a 1 year low of $183.67 and a 1 year high of $354.02.

Kadant (NYSE:KAIGet Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.31. Kadant had a net margin of 12.12% and a return on equity of 16.20%. The business had revenue of $238.68 million for the quarter, compared to the consensus estimate of $227.54 million. As a group, sell-side analysts forecast that Kadant will post 9.96 EPS for the current fiscal year.

Kadant Increases Dividend

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

Insiders Place Their Bets

In other Kadant news, Director Jonathan W. Painter sold 7,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $330.25, for a total value of $2,311,750.00. Following the completion of the transaction, the director now owns 7,615 shares in the company, valued at $2,514,853.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Kadant news, Director Jonathan W. Painter sold 7,000 shares of the company’s stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. Also, SVP Stacy D. Krause sold 881 shares of Kadant 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 disclosure for this sale can be found here. In the last quarter, 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

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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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