Equities Analysts Set Expectations for Kadant Inc.’s Q3 2024 Earnings (NYSE:KAI)

Kadant Inc. (NYSE:KAI) – Research analysts at DA Davidson issued their Q3 2024 earnings estimates for shares of Kadant in a research report issued on Thursday, August 1st. DA Davidson analyst K. Yinger anticipates that the industrial products company will earn $2.45 per share for the quarter. DA Davidson has a “Neutral” rating and a $300.00 price objective on the stock. The consensus estimate for Kadant’s current full-year earnings is $9.95 per share. DA Davidson also issued estimates for Kadant’s FY2024 earnings at $9.94 EPS.

Kadant (NYSE:KAI) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.43 by $0.38. Kadant had a net margin of 11.35% and a return on equity of 15.73%. The firm had revenue of $275.00 million during the quarter, compared to analyst estimates of $263.50 million. During the same quarter in the prior year, the firm earned $2.54 EPS. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year.

Several other research analysts also recently weighed in on the company. William Blair restated an “outperform” rating on shares of Kadant in a research note on Tuesday, April 30th. Barrington Research restated an “outperform” rating and issued a $360.00 price target on shares of Kadant in a research note on Wednesday, June 26th.

Kadant Trading Up 0.4 %

Kadant stock opened at $303.09 on Monday. The firm has a 50 day moving average of $304.13 and a 200 day moving average of $301.97. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 31.57 and a beta of 1.24. Kadant has a 12-month low of $210.43 and a 12-month high of $363.40. The company has a current ratio of 2.05, a quick ratio of 1.27 and a debt-to-equity ratio of 0.39.

Institutional Investors Weigh In On Kadant

Institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in shares of Kadant during the 4th quarter valued at about $1,571,000. Wells Fargo & Company MN lifted its stake in Kadant by 1,578.8% in the 4th quarter. Wells Fargo & Company MN now owns 74,185 shares of the industrial products company’s stock valued at $20,795,000 after buying an additional 69,766 shares in the last quarter. Capital World Investors purchased a new position in Kadant in the 1st quarter valued at about $92,993,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kadant by 640.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,119 shares of the industrial products company’s stock valued at $2,556,000 after buying an additional 7,888 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Kadant by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 661,286 shares of the industrial products company’s stock valued at $185,365,000 after buying an additional 2,885 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 value of $310,526.00. Following the transaction, the director now directly owns 3,802 shares of the company’s stock, valued at approximately $1,061,708.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Kadant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders 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 annualized dividend and a dividend yield of 0.42%. Kadant’s dividend payout ratio is presently 13.33%.

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.