Kadant Inc (KAI) Expected to Announce Earnings of $1.14 Per Share
Equities research analysts expect Kadant Inc (NYSE:KAI) to announce earnings per share of $1.14 for the current quarter, Zacks reports. Two analysts have made estimates for Kadant’s earnings, with the highest EPS estimate coming in at $1.15 and the lowest estimate coming in at $1.13. Kadant reported earnings per share of $0.81 in the same quarter last year, which would indicate a positive year-over-year growth rate of 40.7%. The business is expected to announce its next earnings results on Tuesday, November 7th.
On average, analysts expect that Kadant will report full year earnings of $4.03 per share for the current fiscal year, with EPS estimates ranging from $4.00 to $4.05. For the next financial year, analysts forecast that the business will report earnings of $4.48 per share, with EPS estimates ranging from $4.45 to $4.51. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Kadant.
Kadant (NYSE:KAI) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.13. The business had revenue of $110.24 million for the quarter, compared to the consensus estimate of $113.49 million. Kadant had a net margin of 8.10% and a return on equity of 12.68%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 earnings per share.
A number of equities research analysts recently commented on KAI shares. Zacks Investment Research lowered Kadant from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine lowered Kadant from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. 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. Finally, BidaskClub lowered Kadant from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $95.33.
Shares of Kadant (NYSE KAI) traded up 1.03% during trading on Tuesday, reaching $102.80. 4,072 shares of the company were exchanged. Kadant has a one year low of $50.96 and a one year high of $102.85. The firm’s 50 day moving average price is $95.75 and its 200 day moving average price is $80.38. The company has a market capitalization of $1.13 billion, a PE ratio of 33.94 and a beta of 1.35.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 12th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.83%. The ex-dividend date is Wednesday, October 11th. Kadant’s dividend payout ratio (DPR) is currently 27.72%.
In related news, Director William P. Tully sold 1,250 shares of Kadant 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 sale, 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 at this hyperlink. Company insiders own 5.59% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nationwide Fund Advisors boosted its stake in Kadant by 4.2% in the 3rd quarter. Nationwide Fund Advisors now owns 87,955 shares of the industrial products company’s stock worth $8,668,000 after purchasing an additional 3,522 shares during the period. Northpointe Capital LLC boosted its stake in Kadant by 38.2% in the 3rd quarter. Northpointe Capital LLC now owns 73,947 shares of the industrial products company’s stock worth $7,287,000 after purchasing an additional 20,441 shares during the period. Phocas Financial Corp. boosted its stake in Kadant by 4.7% in the 2nd quarter. Phocas Financial Corp. now owns 167,382 shares of the industrial products company’s stock worth $12,587,000 after purchasing an additional 7,471 shares during the period. Verition Fund Management LLC bought a new position in Kadant in the 2nd quarter worth about $215,000. Finally, Sterling Capital Management LLC bought a new position in Kadant in the 2nd quarter worth about $580,000. Institutional investors and hedge funds own 90.94% of the company’s stock.
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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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