Kadant Inc. (KAI) Set to Announce Earnings on Monday
Kadant Inc. (NYSE:KAI) is set to post its quarterly earnings results after the market closes on Monday, October 30th. Analysts expect Kadant to post earnings of $1.08 per share for the quarter. Kadant has set its Q3 guidance at $1.12 to $1.16 EPS and its FY17 guidance at $3.99 to $4.07 EPS.
Kadant (NYSE:KAI) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.13. The company had revenue of $110.24 million during the quarter, compared to analyst estimates of $113.49 million. Kadant had a net margin of 7.44% and a return on equity of 10.77%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. On average, analysts expect Kadant to post $4.03 EPS for the current fiscal year and $4.50 EPS for the next fiscal year.
Kadant Inc. (NYSE:KAI) traded up 0.30% during trading on Monday, reaching $101.95. 1,003 shares of the company traded hands. Kadant Inc. has a 52 week low of $50.96 and a 52 week high of $102.05. The company’s 50-day moving average price is $95.33 and its 200 day moving average price is $79.76. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 33.66 and a beta of 1.36.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Wednesday, October 11th. Kadant’s dividend payout ratio is presently 27.72%.
A number of brokerages have weighed in on KAI. Zacks Investment Research raised Kadant from a “hold” rating to a “strong-buy” rating and set a $98.00 target price for the company in a research report on Saturday, August 5th. BidaskClub lowered Kadant from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. ValuEngine raised Kadant from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Sidoti lowered Kadant from a “buy” rating to a “neutral” rating and set a $102.00 target price for the company. in a research report on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $95.33.
In other Kadant news, Director William P. Tully sold 1,250 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $89.60, for a total value of $112,000.00. Following the completion of the transaction, the director now owns 5,250 shares of the company’s stock, valued at approximately $470,400. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.59% of the stock is currently owned by insiders.
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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