Kadant (NYSE:KAI) Updates FY24 Earnings Guidance

Kadant (NYSE:KAI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $9.80-$10.05 for the period, compared to the consensus estimate of $10.03. The company issued revenue guidance of $1.045-$1.065 billion, compared to the consensus revenue estimate of $1.06 billion. Kadant also updated its FY 2024 guidance to 9.800-10.050 EPS.

Analysts Set New Price Targets

KAI has been the topic of several analyst reports. DA Davidson boosted their target price on Kadant from $290.00 to $300.00 and gave the company a neutral rating in a research note on Thursday. Barrington Research reaffirmed an outperform rating and issued a $360.00 price target on shares of Kadant in a research note on Wednesday, June 26th. Finally, William Blair reissued an outperform rating on shares of Kadant in a research note on Tuesday, April 30th.

Kadant Trading Down 3.7 %

Shares of KAI stock traded down $11.93 during mid-day trading on Friday, reaching $312.84. The stock had a trading volume of 61,985 shares, compared to its average volume of 89,242. The firm has a market capitalization of $3.67 billion, a PE ratio of 33.83 and a beta of 1.24. The stock’s 50-day moving average price is $302.16 and its two-hundred day moving average price is $300.60. 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 has a 52-week low of $206.86 and a 52-week high of $363.40.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 15.73% and a net margin of 11.35%. Kadant’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the firm earned $2.54 earnings per share. Equities analysts expect that Kadant will post 9.94 earnings per share for the current fiscal year.

Kadant Dividend Announcement

The firm 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 dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.41%. Kadant’s dividend payout ratio is presently 13.33%.

Insider Activity at Kadant

In related news, Director Erin L. Russell sold 1,112 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $279.25, for a total transaction of $310,526.00. Following the transaction, the director now owns 3,802 shares in the company, valued at $1,061,708.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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.