Kadant (NYSE:KAI) Updates FY 2024 Earnings Guidance

Kadant (NYSE:KAI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 9.800-10.050 for the period, compared to the consensus estimate of 10.030. The company issued revenue guidance of $1.0 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Kadant also updated its FY24 guidance to $9.80-$10.05 EPS.

Kadant Trading Up 0.9 %

Kadant stock traded up $3.01 during trading hours on Tuesday, hitting $356.53. The company had a trading volume of 91,789 shares, compared to its average volume of 88,750. The firm has a market cap of $4.19 billion, a P/E ratio of 36.88 and a beta of 1.24. The company has a 50-day moving average price of $298.12 and a two-hundred day moving average price of $299.41. Kadant has a 1 year low of $196.99 and a 1 year high of $359.85. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.27 and a current ratio of 2.05.

Kadant (NYSE:KAI) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.42. The company had revenue of $248.98 million for the quarter, compared to analysts’ expectations of $245.56 million. Kadant had a return on equity of 15.60% and a net margin of 11.53%. Kadant’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.40 earnings per share. On average, sell-side analysts anticipate that Kadant will post 10.03 earnings per share for the current year.

Kadant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 11th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, July 11th. This represents a $1.28 annualized dividend and a dividend yield of 0.36%. Kadant’s dividend payout ratio is currently 13.33%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. William Blair reiterated an outperform rating on shares of Kadant in a report on Tuesday, April 30th. Barrington Research reiterated an outperform rating and set a $360.00 price objective on shares of Kadant in a research note on Wednesday, June 26th.

Insider Transactions at Kadant

In related news, Director Erin L. Russell sold 1,112 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $279.25, for a total transaction of $310,526.00. Following the sale, the director now owns 3,802 shares of the company’s stock, valued at $1,061,708.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.

About Kadant

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.