Kadant Inc. (KAI) Expected to Announce Quarterly Sales of $144.50 Million

Analysts forecast that Kadant Inc. (NYSE:KAI) will announce $144.50 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Kadant’s earnings, with the lowest sales estimate coming in at $143.00 million and the highest estimate coming in at $146.00 million. Kadant posted sales of $100.24 million in the same quarter last year, which would indicate a positive year over year growth rate of 44.2%. The firm is expected to issue its next earnings results on Thursday, February 22nd.

On average, analysts expect that Kadant will report full-year sales of $144.50 million for the current financial year, with estimates ranging from $509.00 million to $511.90 million. For the next financial year, analysts anticipate that the business will post sales of $590.35 million per share, with estimates ranging from $583.00 million to $597.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Kadant.

Kadant (NYSE:KAI) last released its quarterly earnings data on Monday, October 30th. The industrial products company reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.35. Kadant had a return on equity of 14.84% and a net margin of 8.17%. The business had revenue of $152.79 million for the quarter, compared to analysts’ expectations of $141.33 million. During the same quarter in the previous year, the business posted $0.81 EPS. Kadant’s revenue for the quarter was up 44.8% on a year-over-year basis.

Several equities analysts have recently weighed in on KAI shares. Zacks Investment Research cut Kadant from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine cut Kadant from a “buy” rating to a “hold” rating in a report on Monday, December 11th. Finally, Sidoti cut 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. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $104.67.

Kadant (KAI) opened at $97.70 on Friday. Kadant has a 1-year low of $56.15 and a 1-year high of $114.00. The company has a current ratio of 2.35, a quick ratio of 1.65 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $1,075.38, a PE ratio of 24.30 and a beta of 1.37.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 8th. Stockholders of record on Thursday, January 11th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Wednesday, January 10th. Kadant’s dividend payout ratio (DPR) is presently 24.85%.

In other Kadant news, COO Eric T. Langevin sold 700 shares of the business’s stock in a transaction that occurred on Thursday, December 27th. The stock was sold at an average price of $100.56, for a total value of $70,392.00. Following the sale, the chief operating officer now owns 28,850 shares in the company, valued at approximately $2,901,156. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sandra L. Lambert sold 6,437 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $108.66, for a total value of $699,444.42. Following the completion of the sale, the vice president now owns 20,942 shares in the company, valued at approximately $2,275,557.72. The disclosure for this sale can be found here. Insiders have sold a total of 53,256 shares of company stock worth $5,450,550 in the last quarter. 5.59% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC lifted its stake in Kadant by 142.0% in the 3rd quarter. Sterling Capital Management LLC now owns 18,674 shares of the industrial products company’s stock valued at $1,840,000 after acquiring an additional 10,956 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Kadant in the 3rd quarter valued at approximately $772,000. Highbridge Capital Management LLC bought a new stake in Kadant in the 3rd quarter valued at approximately $302,000. Epoch Investment Partners Inc. lifted its stake in Kadant by 17.4% in the 3rd quarter. Epoch Investment Partners Inc. now owns 180,967 shares of the industrial products company’s stock valued at $17,834,000 after acquiring an additional 26,771 shares in the last quarter. Finally, Invictus RG bought a new stake in Kadant in the 3rd quarter valued at approximately $476,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was posted by American Banking News and is the property of of American Banking News. If you are reading this article on another domain, it was stolen and republished in violation of U.S. & international copyright and trademark laws. The original version of this article can be accessed at https://www.americanbankingnews.com/2018/01/07/kadant-inc-kai-expected-to-announce-quarterly-sales-of-144-50-million.html.

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.

Get a free copy of the Zacks research report on Kadant (KAI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Kadant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply