Brokers Offer Predictions for Kadant Inc’s FY2017 Earnings (KAI)
Kadant Inc (NYSE:KAI) – Barrington Research lifted their FY2017 EPS estimates for Kadant in a research report issued to clients and investors on Wednesday. Barrington Research analyst M. Gall now anticipates that the industrial products company will earn $4.37 per share for the year, up from their previous estimate of $4.03. Barrington Research also issued estimates for Kadant’s FY2018 earnings at $4.80 EPS.
Kadant (NYSE:KAI) last announced its quarterly earnings data on Monday, October 30th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.35. Kadant had a return on equity of 15.26% and a net margin of 8.17%. The company had revenue of $152.79 million for the quarter, compared to analysts’ expectations of $141.33 million. During the same quarter in the prior year, the firm earned $0.81 earnings per share. Kadant’s revenue was up 44.8% compared to the same quarter last year.
A number of other brokerages have also commented on KAI. Sidoti lowered shares of Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price objective on the stock. in a report on Tuesday, October 3rd. ValuEngine lowered shares of Kadant from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research lowered shares of Kadant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, BidaskClub lowered shares of Kadant from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $95.33.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, October 11th. This represents a $0.84 dividend on an annualized basis and a yield of 0.74%. Kadant’s payout ratio is presently 24.85%.
In other Kadant news, Director William P. Tully sold 1,250 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $89.60, for a total transaction of $112,000.00. Following the transaction, the director now directly owns 5,250 shares in the company, valued at approximately $470,400. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.59% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in KAI. Citigroup Inc. lifted its position in Kadant by 24.2% during the 2nd quarter. Citigroup Inc. now owns 1,411 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 275 shares during the period. SG Americas Securities LLC acquired a new position in Kadant during the 2nd quarter valued at about $127,000. BNP Paribas Arbitrage SA lifted its position in Kadant by 718.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,743 shares of the industrial products company’s stock valued at $131,000 after purchasing an additional 1,530 shares during the period. Hillsdale Investment Management Inc. acquired a new position in Kadant during the 2nd quarter valued at about $150,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Kadant during the 2nd quarter valued at about $176,000. Institutional investors own 90.93% of the company’s stock.
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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