Kadant Inc (KAI) Expected to Post Quarterly Sales of $111.88 Million
Wall Street brokerages forecast that Kadant Inc (NYSE:KAI) will announce $111.88 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Kadant’s earnings, with the lowest sales estimate coming in at $109.80 million and the highest estimate coming in at $115.54 million. Kadant posted sales of $111.83 million during the same quarter last year, which suggests a positive year-over-year growth rate of 0%. The business is scheduled to announce its next earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Kadant will report full year sales of $111.88 million for the current fiscal year, with estimates ranging from $428.80 million to $438.45 million. For the next financial year, analysts anticipate that the company will post sales of $464.04 million per share, with estimates ranging from $459.58 million to $468.50 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Kadant.
Kadant (NYSE:KAI) last released its quarterly earnings data on Tuesday, May 2nd. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.16. The business had revenue of $102.86 million during the quarter, compared to analysts’ expectations of $99.30 million. Kadant had a return on equity of 12.35% and a net margin of 8.12%.
Several analysts have recently weighed in on KAI shares. Zacks Investment Research upgraded Kadant from a “sell” rating to a “hold” rating and set a $80.00 target price for the company in a research note on Monday, May 1st. Barrington Research raised their target price on Kadant from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, May 31st. Sidoti restated a “buy” rating and set a $95.00 target price (up from $85.00) on shares of Kadant in a research note on Saturday, June 3rd. Finally, William Blair upgraded Kadant from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 3rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Kadant currently has a consensus rating of “Buy” and a consensus price target of $73.60.
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Kadant (NYSE KAI) opened at 77.15 on Friday. The firm has a market capitalization of $848.65 million, a PE ratio of 25.22 and a beta of 1.35. Kadant has a 52-week low of $49.20 and a 52-week high of $81.55. The stock’s 50 day moving average price is $77.26 and its 200 day moving average price is $66.38.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Thursday, July 13th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, July 11th. This represents a $0.84 dividend on an annualized basis and a yield of 1.09%. Kadant’s dividend payout ratio (DPR) is 27.45%.
Kadant declared that its board has approved a share buyback program on Wednesday, May 17th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the industrial products company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
A number of institutional investors have recently bought and sold shares of the company. BTIM Corp. purchased a new position in Kadant during the second quarter worth approximately $7,562,000. Handelsinvest Investeringsforvaltning increased 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 worth $10,017,000 after buying an additional 56,300 shares during the period. Handelsbanken Fonder AB increased 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 worth $25,944,000 after buying an additional 23,000 shares during the period. Macquarie Group Ltd. increased 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 worth $33,165,000 after buying an additional 71,662 shares during the period. Finally, Credit Suisse AG increased 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 worth $988,000 after buying an additional 4,110 shares during the period. Institutional investors and hedge funds 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.
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