$0.91 Earnings Per Share Expected for Kadant Inc (KAI) This Quarter
Equities analysts predict that Kadant Inc (NYSE:KAI) will post earnings per share of $0.91 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Kadant’s earnings, with the lowest EPS estimate coming in at $0.87 and the highest estimate coming in at $0.94. Kadant reported earnings per share of $0.89 in the same quarter last year, which indicates a positive year-over-year growth rate of 2.2%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, August 2nd.
According to Zacks, analysts expect that Kadant will report full-year earnings of $3.38 per share for the current financial year, with EPS estimates ranging from $3.37 to $3.40. For the next fiscal year, analysts forecast that the business will post earnings of $3.76 per share, with EPS estimates ranging from $3.71 to $3.80. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow Kadant.
Kadant (NYSE:KAI) last issued its earnings results on Tuesday, May 2nd. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. Kadant had a return on equity of 12.35% and a net margin of 8.12%. The business had revenue of $102.86 million during the quarter, compared to the consensus estimate of $99.30 million.
KAI has been the topic of several recent research reports. Zacks Investment Research upgraded Kadant from a “sell” rating to a “hold” rating and set a $80.00 price objective on the stock in a research report on Monday, May 1st. Barrington Research upped their price objective on Kadant from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, May 31st. Sidoti restated a “buy” rating and issued a $95.00 price objective (up from $85.00) on shares of Kadant in a research report on Saturday, June 3rd. Finally, William Blair upgraded Kadant from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $73.60.
COPYRIGHT VIOLATION WARNING: This story was first reported by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/07/21/0-91-earnings-per-share-expected-for-kadant-inc-kai-this-quarter-2.html.
Shares of Kadant (KAI) traded down 1.28% during mid-day trading on Friday, hitting $77.15. The company’s stock had a trading volume of 87,405 shares. The company has a market cap of $848.65 million, a PE ratio of 25.22 and a beta of 1.35. Kadant has a 12-month low of $49.20 and a 12-month high of $81.55. The stock has a 50-day moving average of $77.26 and a 200-day moving average of $66.38.
Kadant announced that its Board of Directors has initiated a stock buyback plan on Wednesday, May 17th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 10th. Stockholders of record on Thursday, July 13th will be given a $0.21 dividend. The ex-dividend date is Tuesday, July 11th. This represents a $0.84 annualized dividend and a dividend yield of 1.09%. Kadant’s dividend payout ratio is currently 27.45%.
Institutional investors have recently added to or reduced their stakes in the stock. BTIM Corp. acquired a new position in Kadant during the second quarter valued at approximately $7,562,000. Handelsinvest Investeringsforvaltning raised its position in Kadant by 73.2% in the second quarter. Handelsinvest Investeringsforvaltning now owns 133,200 shares of the industrial products company’s stock valued at $10,017,000 after buying an additional 56,300 shares during the last quarter. Handelsbanken Fonder AB raised its position in Kadant by 7.1% in the second quarter. Handelsbanken Fonder AB now owns 345,000 shares of the industrial products company’s stock valued at $25,944,000 after buying an additional 23,000 shares during the last quarter. Macquarie Group Ltd. raised its position in Kadant by 14.7% in the first quarter. Macquarie Group Ltd. now owns 558,797 shares of the industrial products company’s stock valued at $33,165,000 after buying an additional 71,662 shares during the last quarter. Finally, Credit Suisse AG raised its position in Kadant by 32.8% in the first quarter. Credit Suisse AG now owns 16,648 shares of the industrial products company’s stock valued at $988,000 after buying an additional 4,110 shares during the last quarter. Hedge funds and other institutional investors own 90.00% of the company’s stock.
Kadant Company Profile
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Kadant Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant Inc and related companies with MarketBeat.com's FREE daily email newsletter.