Kadant (NYSE:KAI) Issues Q3 2024 Earnings Guidance

Kadant (NYSE:KAI) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.360-2.480 for the period, compared to the consensus earnings per share estimate of 2.670. The company issued revenue guidance of $257.0 million-$269.0 million, compared to the consensus revenue estimate of $273.9 million. Kadant also updated its FY 2024 guidance to 9.800-10.050 EPS.

Kadant Price Performance

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

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

Kadant Announces Dividend

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. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend is Thursday, July 11th. Kadant’s payout ratio is 13.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barrington Research reaffirmed an outperform rating and set a $360.00 target price on shares of Kadant in a report on Wednesday, June 26th. William Blair restated an outperform rating on shares of Kadant in a report on Tuesday, April 30th.

Insiders Place Their Bets

In related news, Director Erin L. Russell sold 1,112 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $279.25, for a total transaction of $310,526.00. Following the transaction, the director now directly owns 3,802 shares of the company’s stock, valued at $1,061,708.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.40% of the company’s stock.

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.