Kadant (NYSE:KAI) Releases FY 2024 Earnings Guidance

Kadant (NYSE:KAI) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 9.930-10.130 for the period, compared to the consensus EPS 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 Price Performance

NYSE:KAI traded down $1.60 during mid-day trading on Tuesday, hitting $320.55. The company’s stock had a trading volume of 40,992 shares, compared to its average volume of 80,787. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 32.98 and a beta of 1.21. The company has a current ratio of 2.25, a quick ratio of 1.40 and a debt-to-equity ratio of 0.42. Kadant has a fifty-two week low of $217.85 and a fifty-two week high of $363.40. The stock has a fifty day moving average of $322.41 and a 200-day moving average of $305.09.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.43 by $0.38. Kadant had a return on equity of 15.48% and a net margin of 11.35%. The business had revenue of $275.00 million during the quarter, compared to the consensus estimate of $263.50 million. During the same quarter last year, the company earned $2.54 EPS. Kadant’s revenue was up 12.2% on a year-over-year basis. As a group, equities analysts forecast that Kadant will post 9.93 EPS for the current fiscal year.

Kadant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Thursday, October 10th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Thursday, October 10th. Kadant’s payout ratio is 13.17%.

Analyst Ratings Changes

A number of research firms have recently issued reports on KAI. Barrington Research reiterated an “outperform” rating and issued a $360.00 target price on shares of Kadant in a research note on Friday, September 20th. DA Davidson raised their price objective on shares of Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st.

Insider Activity at Kadant

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of Kadant stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total transaction of $674,800.00. Following the completion of the sale, the director now owns 4,250 shares of the company’s stock, valued at approximately $1,433,950. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.