Kadant Inc. (NYSE:KAI) Expected to Post Earnings of $1.36 Per Share

Wall Street analysts expect that Kadant Inc. (NYSE:KAI) will post $1.36 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Kadant’s earnings, with the lowest EPS estimate coming in at $1.29 and the highest estimate coming in at $1.42. Kadant posted earnings of $1.09 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 24.8%. The firm is scheduled to report its next earnings results on Wednesday, May 5th.

According to Zacks, analysts expect that Kadant will report full-year earnings of $5.83 per share for the current financial year, with EPS estimates ranging from $5.74 to $5.92. For the next fiscal year, analysts forecast that the business will report earnings of $6.55 per share, with EPS estimates ranging from $6.25 to $6.98. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Kadant.

Kadant (NYSE:KAI) last issued its quarterly earnings data on Thursday, February 18th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.23. The business had revenue of $168.43 million during the quarter, compared to analysts’ expectations of $164.55 million. Kadant had a return on equity of 12.57% and a net margin of 7.35%.

Several equities analysts have recently weighed in on the stock. Barrington Research lifted their target price on shares of Kadant from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, March 4th. DA Davidson lifted their price objective on shares of Kadant from $115.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, February 19th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Kadant from a “hold” rating to a “strong-buy” rating and set a $189.00 target price on the stock in a research note on Tuesday, February 23rd. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $158.75.

In other news, VP Stacy D. Krause sold 1,280 shares of the business’s stock in a transaction dated Thursday, March 11th. The shares were sold at an average price of $177.06, for a total transaction of $226,636.80. Following the completion of the sale, the vice president now owns 2,751 shares of the company’s stock, valued at $487,092.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of KAI. Great West Life Assurance Co. Can increased its position in shares of Kadant by 35,614.6% during the third quarter. Great West Life Assurance Co. Can now owns 397,861 shares of the industrial products company’s stock worth $1,133,000 after purchasing an additional 396,747 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Kadant by 5.6% during the fourth quarter. BlackRock Inc. now owns 849,695 shares of the industrial products company’s stock worth $119,789,000 after buying an additional 44,942 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Kadant in the fourth quarter valued at about $4,012,000. Riverbridge Partners LLC raised its position in shares of Kadant by 12.3% in the fourth quarter. Riverbridge Partners LLC now owns 234,603 shares of the industrial products company’s stock valued at $33,074,000 after buying an additional 25,681 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Kadant by 6.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 397,902 shares of the industrial products company’s stock worth $56,096,000 after buying an additional 23,067 shares in the last quarter. 95.55% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:KAI traded up $1.19 during trading hours on Wednesday, reaching $180.98. The company had a trading volume of 22,196 shares, compared to its average volume of 45,851. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.22 and a quick ratio of 1.37. Kadant has a 1-year low of $72.47 and a 1-year high of $189.40. The business’s 50 day moving average price is $179.74 and its 200-day moving average price is $147.52. The firm has a market cap of $2.10 billion, a PE ratio of 43.53, a price-to-earnings-growth ratio of 3.54 and a beta of 1.38.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 12th. Shareholders of record on Wednesday, April 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 13th. This is a boost from Kadant’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. Kadant’s dividend payout ratio is currently 18.66%.

Kadant Company Profile

Kadant Inc supplies critical components and engineered systems worldwide. It operates through 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, profiling systems, doctor blades, shower and fabric-conditioning systems, formation systems, and water-filtration systems.

Read More: What does a market perform rating mean?

Get a free copy of the Zacks research report on Kadant (KAI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Kadant (NYSE:KAI)

Receive News & Ratings for Kadant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant and related companies with MarketBeat.com's FREE daily email newsletter.