Analysts predict that Kadant Inc. (NYSE:KAI) will report sales of $168.33 million for the current quarter, according to Zacks. Three analysts have made estimates for Kadant’s earnings, with the highest sales estimate coming in at $169.99 million and the lowest estimate coming in at $167.00 million. Kadant reported sales of $154.91 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.7%. The company is scheduled to issue its next earnings report on Monday, July 29th.
On average, analysts expect that Kadant will report full year sales of $705.36 million for the current fiscal year, with estimates ranging from $701.00 million to $709.02 million. For the next financial year, analysts anticipate that the company will post sales of $741.81 million, with estimates ranging from $730.00 million to $748.42 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Kadant.
Kadant (NYSE:KAI) last issued its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.11. The firm had revenue of $171.30 million during the quarter, compared to the consensus estimate of $164.37 million. Kadant had a return on equity of 17.26% and a net margin of 9.22%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted $1.07 EPS.
A number of analysts have recently issued reports on KAI shares. Seaport Global Securities downgraded Kadant from a “buy” rating to a “neutral” rating and set a $97.09 price target for the company. in a research report on Thursday, May 2nd. ValuEngine upgraded XPO Logistics from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 4th. Finally, Zacks Investment Research downgraded HEXO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Kadant currently has an average rating of “Hold” and an average price target of $103.55.
In related news, insider Michael J. Mckenney sold 2,261 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $86.12, for a total value of $194,717.32. Following the completion of the sale, the insider now owns 17,318 shares in the company, valued at approximately $1,491,426.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jonathan W. Painter sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $91.57, for a total value of $247,239.00. Following the completion of the sale, the chairman now owns 96,017 shares of the company’s stock, valued at approximately $8,792,276.69. The disclosure for this sale can be found here. Insiders sold a total of 81,949 shares of company stock valued at $7,392,752 in the last 90 days. 5.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in KAI. Wasatch Advisors Inc. increased its stake in shares of Kadant by 7.5% in the 1st quarter. Wasatch Advisors Inc. now owns 1,123,588 shares of the industrial products company’s stock valued at $98,831,000 after purchasing an additional 78,147 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Kadant by 11.6% in the 4th quarter. Macquarie Group Ltd. now owns 704,600 shares of the industrial products company’s stock worth $57,396,000 after purchasing an additional 73,020 shares during the period. Millennium Management LLC boosted its stake in Kadant by 1,212.7% in the 4th quarter. Millennium Management LLC now owns 69,942 shares of the industrial products company’s stock worth $5,697,000 after purchasing an additional 64,614 shares during the period. Pictet Asset Management Ltd. boosted its stake in Kadant by 53.7% in the 1st quarter. Pictet Asset Management Ltd. now owns 124,044 shares of the industrial products company’s stock worth $10,911,000 after purchasing an additional 43,344 shares during the period. Finally, Stifel Financial Corp boosted its stake in Kadant by 61.5% in the 4th quarter. Stifel Financial Corp now owns 93,148 shares of the industrial products company’s stock worth $7,574,000 after purchasing an additional 35,459 shares during the period. Institutional investors own 92.49% of the company’s stock.
Shares of KAI opened at $89.00 on Friday. The company has a market cap of $1.02 billion, a P/E ratio of 16.62 and a beta of 1.24. The company has a current ratio of 2.07, a quick ratio of 1.35 and a debt-to-equity ratio of 0.94. The firm’s 50-day simple moving average is $87.62. Kadant has a 12-month low of $76.44 and a 12-month high of $111.85.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 11th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, July 10th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.03%.
Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.
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