Kadant (NYSE:KAI) Updates FY 2024 Earnings Guidance

Kadant (NYSE:KAI) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 9.800-10.050 for the period, compared to the consensus EPS estimate of 10.030. 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 FY24 guidance to $9.80-$10.05 EPS.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KAI. William Blair restated an outperform rating on shares of Kadant in a report on Tuesday, April 30th. Barrington Research restated an outperform rating and set a $360.00 price objective on shares of Kadant in a research note on Wednesday, June 26th.

Kadant Stock Performance

Shares of Kadant stock traded up $3.01 during trading hours on Tuesday, reaching $356.53. 91,789 shares of the stock traded hands, compared to its average volume of 88,750. The company has a 50 day moving average price of $299.55 and a 200 day moving average price of $300.07. Kadant has a one year low of $196.99 and a one year high of $359.85. The company has a quick ratio of 1.27, a current ratio of 2.05 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 37.14 and a beta of 1.24.

Kadant (NYSE:KAI) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.42. The business had revenue of $248.98 million during the quarter, compared to analysts’ expectations of $245.56 million. Kadant had a net margin of 11.53% and a return on equity of 15.60%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.40 earnings per share. On average, equities research analysts expect that Kadant will post 10.03 earnings per share for the current fiscal year.

Kadant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Thursday, July 11th will be issued a $0.32 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.28 dividend on an annualized basis and a yield of 0.36%. Kadant’s dividend payout ratio is currently 13.33%.

Insider Buying and Selling at Kadant

In related news, Director Erin L. Russell sold 1,112 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $279.25, for a total value of $310,526.00. Following the completion of the sale, the director now directly owns 3,802 shares of the company’s stock, valued at approximately $1,061,708.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

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.