Kadant (NYSE:KAI – Get Free Report) 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 – Get Free Report) 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
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.
Check Out Our Latest Stock Analysis on Kadant
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.
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