Kadant Inc (NYSE:KAI) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $1.12 to $1.16 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.98. The company issued revenue guidance of $139 million to $142 million, compared to the consensus revenue estimate of $128.37 million.Kadant also updated its FY17 guidance to $3.99 to $4.07 EPS.
Kadant Inc (NYSE:KAI) traded up 0.83% during mid-day trading on Friday, reaching $85.10. The company had a trading volume of 74,961 shares. The stock has a market capitalization of $936.44 million, a price-to-earnings ratio of 28.10 and a beta of 1.36. The stock has a 50 day moving average of $80.31 and a 200 day moving average of $69.49. Kadant Inc has a 52 week low of $49.20 and a 52 week high of $89.90.
Kadant (NYSE:KAI) last released its quarterly earnings data 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 company had revenue of $110.24 million for the quarter, compared to analyst estimates of $113.49 million. Kadant had a return on equity of 12.68% and a net margin of 8.10%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. Analysts anticipate that Kadant Inc will post $4.03 earnings per share for the current year.
Kadant declared that its board has authorized a share buyback program on Wednesday, May 17th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Several brokerages have recently commented on KAI. Zacks Investment Research raised Kadant from a hold rating to a strong-buy rating and set a $98.00 price target on the stock in a research note on Saturday, August 5th. BidaskClub lowered Kadant from a buy rating to a hold rating in a research note on Monday, July 24th. William Blair raised Kadant from a market perform rating to an outperform rating in a research note on Wednesday, May 3rd. Sidoti reaffirmed a buy rating and issued a $95.00 price target (up previously from $85.00) on shares of Kadant in a research note on Saturday, June 3rd. Finally, Barrington Research upped their price target on Kadant from $80.00 to $86.00 and gave the company an outperform rating in a research note on Wednesday, May 31st. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $82.00.
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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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