Kadant (NYSE:KAI) Releases FY 2024 Earnings Guidance

Kadant (NYSE:KAI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 9.800-10.050 for the period, compared to the consensus estimate of 10.030. 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 FY24 guidance to $9.80-$10.05 EPS.

Kadant Stock Down 4.6 %

KAI stock traded down $14.83 during trading on Friday, reaching $309.94. The stock had a trading volume of 102,964 shares, compared to its average volume of 89,519. Kadant has a one year low of $206.86 and a one year high of $363.40. The company’s 50 day moving average is $302.16 and its two-hundred day moving average is $300.60. The company has a quick ratio of 1.27, a current ratio of 2.05 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 33.83 and a beta of 1.24.

Kadant (NYSE:KAI) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.38. Kadant had a return on equity of 15.73% and a net margin of 11.35%. The company had revenue of $275.00 million during the quarter, compared to the consensus estimate of $263.50 million. During the same period last year, the business posted $2.54 earnings per share. Kadant’s revenue was up 12.2% on a year-over-year basis. Equities research analysts forecast that Kadant will post 9.94 EPS for the current year.

Kadant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 11th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Thursday, July 11th. Kadant’s payout ratio is 13.33%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KAI. DA Davidson raised their price objective on shares of Kadant from $290.00 to $300.00 and gave the stock a neutral rating in a report on Thursday. William Blair reaffirmed an outperform rating on shares of Kadant in a report on Tuesday, April 30th. Finally, Barrington Research reiterated an outperform rating and issued a $360.00 price objective on shares of Kadant in a research note on Wednesday, June 26th.

Insider Activity at Kadant

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