Kadant (NYSE:KAI) Updates Q4 Earnings Guidance

Kadant (NYSE:KAI) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $1.90-2.10 for the period, compared to the consensus earnings per share estimate of $2.31. The company issued revenue guidance of $252-260 million, compared to the consensus revenue estimate of $263.09 million.

Analyst Upgrades and Downgrades

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

Kadant Stock Down 0.5 %

NYSE KAI traded down $1.60 during trading hours on Tuesday, reaching $320.55. 40,994 shares of the company traded hands, compared to its average volume of 80,787. Kadant has a 12 month low of $217.85 and a 12 month high of $363.40. The company has a current ratio of 2.25, a quick ratio of 1.40 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $3.76 billion, a PE ratio of 32.98 and a beta of 1.21. The company has a 50 day moving average of $322.11 and a two-hundred day moving average of $304.90.

Kadant (NYSE:KAI) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.38. The company had revenue of $275.00 million for the quarter, compared to analysts’ expectations of $263.50 million. Kadant had a net margin of 11.35% and a return on equity of 15.48%. The firm’s revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.54 earnings per share. As a group, equities analysts expect that Kadant will post 9.93 earnings per share for the current year.

Kadant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.40%. Kadant’s dividend payout ratio (DPR) is 13.17%.

Insiders Place Their Bets

In other Kadant news, Director Thomas C. Leonard sold 2,000 shares of the 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 sale, the director now directly owns 4,250 shares of the company’s stock, valued at approximately $1,433,950. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is 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.