Kadant (NYSE:KAI) Releases FY24 Earnings Guidance

Kadant (NYSE:KAI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $9.75-$10.05 for the period, compared to the consensus earnings per share estimate of $9.98. The company issued revenue guidance of $1.040-$1.065 billion, compared to the consensus revenue estimate of $1.06 billion. Kadant also updated its Q2 guidance to $2.40-$2.50 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com downgraded shares of Kadant from a buy rating to a hold rating in a research note on Thursday, January 4th. Barrington Research reaffirmed an outperform rating and set a $360.00 price target on shares of Kadant in a research report on Monday.

Kadant Stock Performance

NYSE KAI traded down $13.37 on Tuesday, hitting $273.79. 125,005 shares of the company’s stock traded hands, compared to its average volume of 92,549. The firm has a market capitalization of $3.21 billion, a PE ratio of 29.00 and a beta of 1.28. Kadant has a 1-year low of $183.67 and a 1-year high of $354.02. The firm’s 50-day moving average price is $311.80 and its two-hundred day moving average price is $282.12. The company has a current ratio of 2.05, a quick ratio of 1.34 and a debt-to-equity ratio of 0.14.

Kadant (NYSE:KAI) last announced its quarterly earnings results on Wednesday, February 14th. The industrial products company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.31. Kadant had a return on equity of 16.20% and a net margin of 12.12%. The company had revenue of $238.68 million during the quarter, compared to analysts’ expectations of $227.54 million. As a group, analysts expect that Kadant will post 9.96 EPS for the current year.

Kadant Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 10th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.47%. The ex-dividend date is Tuesday, April 9th. This is a positive change from Kadant’s previous quarterly dividend of $0.29. Kadant’s dividend payout ratio (DPR) is currently 12.93%.

Insiders Place Their Bets

In other Kadant news, Director Thomas C. Leonard sold 217 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $323.81, for a total value of $70,266.77. Following the sale, the director now directly owns 11,080 shares of the company’s stock, valued at $3,587,814.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Jonathan W. Painter sold 7,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $330.25, for a total transaction of $2,311,750.00. Following the completion of the transaction, the director now owns 7,615 shares in the company, valued at approximately $2,514,853.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas C. Leonard sold 217 shares of Kadant stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $323.81, for a total value of $70,266.77. Following the completion of the sale, the director now owns 11,080 shares in the company, valued at $3,587,814.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,798 shares of company stock worth $2,899,004. Company insiders own 1.40% of the company’s stock.

Kadant Company Profile

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.