Brokers Offer Predictions for Kadant Inc’s FY2017 Earnings (KAI)
Kadant Inc (NYSE:KAI) – Seaport Global Securities lifted their FY2017 EPS estimates for Kadant in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst W. Liptak now anticipates that the industrial products company will earn $4.40 per share for the year, up from their previous estimate of $4.00. Seaport Global Securities also issued estimates for Kadant’s Q4 2017 earnings at $1.08 EPS and Q3 2018 earnings at $1.37 EPS.
Kadant (NYSE:KAI) last announced its quarterly earnings results on Monday, October 30th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.35. The firm had revenue of $152.79 million for the quarter, compared to analyst estimates of $141.33 million. Kadant had a net margin of 8.17% and a return on equity of 15.26%. The business’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS.
Several other research analysts have also recently weighed in on the company. Zacks Investment Research cut Kadant from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. ValuEngine upgraded Kadant from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub cut Kadant from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Sidoti cut Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price target on the stock. in a research report on Tuesday, October 3rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $95.33.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 12th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Wednesday, October 11th. Kadant’s payout ratio is currently 24.85%.
In related news, Director William P. Tully sold 1,250 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $89.60, for a total value of $112,000.00. Following the transaction, the director now owns 5,250 shares in the company, valued at $470,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.59% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of KAI. American International Group Inc. increased its position in shares of Kadant by 7.1% in the first quarter. American International Group Inc. now owns 6,601 shares of the industrial products company’s stock worth $392,000 after purchasing an additional 435 shares during the period. Teachers Advisors LLC increased its position in shares of Kadant by 40.8% in the first quarter. Teachers Advisors LLC now owns 24,684 shares of the industrial products company’s stock worth $1,465,000 after purchasing an additional 7,157 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Kadant by 14.7% in the first quarter. TIAA CREF Investment Management LLC now owns 58,220 shares of the industrial products company’s stock worth $3,455,000 after purchasing an additional 7,479 shares during the period. Vanguard Group Inc. increased its position in shares of Kadant by 4.5% in the first quarter. Vanguard Group Inc. now owns 455,242 shares of the industrial products company’s stock worth $27,019,000 after purchasing an additional 19,603 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Kadant by 5.1% in the first quarter. Geode Capital Management LLC now owns 120,698 shares of the industrial products company’s stock worth $7,163,000 after purchasing an additional 5,826 shares during the period. Institutional investors own 90.93% 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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