Kadant (NYSE:KAI) Releases Q4 2024 Earnings Guidance

Kadant (NYSE:KAI) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.900-2.100 for the period, compared to the consensus estimate of 2.310. The company issued revenue guidance of $252.0 million-$260.0 million, compared to the consensus revenue estimate of $263.1 million. Kadant also updated its FY 2024 guidance to 9.930-10.130 EPS.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KAI. DA Davidson upped their target price on shares of Kadant from $290.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Barrington Research reiterated an “outperform” rating and issued a $360.00 price target on shares of Kadant in a research report on Wednesday.

Kadant Price Performance

KAI stock traded up $6.62 during midday trading on Friday, reaching $339.68. 21,445 shares of the stock were exchanged, compared to its average volume of 80,570. The stock has a market capitalization of $3.99 billion, a PE ratio of 34.09 and a beta of 1.21. The company has a fifty day moving average price of $323.33 and a 200 day moving average price of $305.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.25 and a quick ratio of 1.40. Kadant has a 52 week low of $231.83 and a 52 week high of $363.40.

Kadant (NYSE:KAI) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.41. The business had revenue of $271.61 million during the quarter, compared to the consensus estimate of $266.38 million. Kadant had a return on equity of 15.41% and a net margin of 11.12%. Kadant’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.69 earnings per share. As a group, analysts expect that Kadant will post 9.99 EPS for the current fiscal year.

Kadant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.28 dividend on an annualized basis and a yield of 0.38%. Kadant’s dividend payout ratio is currently 13.10%.

Insider Buying and Selling

In related news, Director Thomas C. Leonard sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $337.40, for a total transaction of $674,800.00. Following the transaction, the director now owns 4,250 shares in the company, valued at $1,433,950. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by corporate 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.