Equities analysts expect Kadant (NYSE:KAI) to post earnings of $0.96 per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Kadant’s earnings, with the highest EPS estimate coming in at $0.97 and the lowest estimate coming in at $0.95. Kadant reported earnings per share of $0.80 during the same quarter last year, which suggests a positive year over year growth rate of 20%. The business is expected to report its next earnings results on Tuesday, May 1st.
On average, analysts expect that Kadant will report full-year earnings of $5.02 per share for the current fiscal year, with EPS estimates ranging from $4.97 to $5.05. For the next year, analysts forecast that the business will post earnings of $5.52 per share, with EPS estimates ranging from $5.49 to $5.55. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Kadant.
Kadant (NYSE:KAI) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.08 by $0.06. The business had revenue of $149.14 million during the quarter, compared to analysts’ expectations of $144.50 million. Kadant had a return on equity of 15.93% and a net margin of 6.04%.
KAI has been the subject of several recent analyst reports. Zacks Investment Research raised Kadant from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a report on Wednesday, April 4th. ValuEngine raised Kadant from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Kadant in a research note on Thursday, March 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $105.33.
KAI opened at $97.35 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 2.01 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $1,085.71, a PE ratio of 22.02 and a beta of 1.37. Kadant has a 12 month low of $59.25 and a 12 month high of $114.00.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Investors of record on Thursday, April 12th will be paid a $0.22 dividend. This is an increase from Kadant’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, April 11th. Kadant’s dividend payout ratio (DPR) is presently 19.60%.
In related news, insider Jeffrey L. Powell sold 6,102 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $101.41, for a total value of $618,803.82. Following the completion of the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $507,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sandra L. Lambert sold 2,475 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $104.51, for a total value of $258,662.25. Following the completion of the transaction, the vice president now directly owns 13,190 shares of the company’s stock, valued at $1,378,486.90. The disclosure for this sale can be found here. Insiders sold a total of 15,854 shares of company stock valued at $1,607,931 over the last ninety days. 5.40% 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 KAI. Royce & Associates LP increased its stake in Kadant by 43.5% in the 4th quarter. Royce & Associates LP now owns 384,519 shares of the industrial products company’s stock valued at $38,606,000 after purchasing an additional 116,547 shares in the last quarter. Renaissance Technologies LLC increased its position in Kadant by 60.2% during the fourth quarter. Renaissance Technologies LLC now owns 146,399 shares of the industrial products company’s stock worth $14,698,000 after buying an additional 54,999 shares in the last quarter. BlackRock Inc. increased its position in Kadant by 4.8% during the fourth quarter. BlackRock Inc. now owns 1,138,121 shares of the industrial products company’s stock worth $114,267,000 after buying an additional 52,518 shares in the last quarter. Deutsche Bank AG increased its position in Kadant by 188.6% during the fourth quarter. Deutsche Bank AG now owns 67,139 shares of the industrial products company’s stock worth $6,738,000 after buying an additional 43,875 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Kadant by 78.3% during the fourth quarter. American Century Companies Inc. now owns 92,467 shares of the industrial products company’s stock worth $9,284,000 after buying an additional 40,602 shares in the last quarter. 90.70% of the stock is owned by hedge funds and other institutional investors.
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Kadant Company Profile
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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