Kadant (NYSE:KAI) Issues Q2 2024 Earnings Guidance

Kadant (NYSE:KAI) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.400-2.500 for the period, compared to the consensus earnings per share estimate of 2.530. The company issued revenue guidance of $258.0 million-$266.0 million, compared to the consensus revenue estimate of $266.1 million. Kadant also updated its FY 2024 guidance to 9.750-10.050 EPS.

Analyst Upgrades and Downgrades

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

Kadant Trading Down 4.7 %

Shares of NYSE KAI traded down $13.37 during midday trading on Tuesday, hitting $273.79. The company’s stock had a trading volume of 123,379 shares, compared to its average volume of 92,549. Kadant has a 12-month low of $183.67 and a 12-month high of $354.02. The company has a current ratio of 2.05, a quick ratio of 1.34 and a debt-to-equity ratio of 0.14. The firm has a market cap of $3.21 billion, a P/E ratio of 27.66 and a beta of 1.28. The business’s 50 day moving average is $311.80 and its two-hundred day moving average is $282.12.

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

Kadant Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Tuesday, April 9th. This is an increase from Kadant’s previous quarterly dividend of $0.29. Kadant’s payout ratio is currently 12.93%.

Insider Activity at Kadant

In other news, Director Jonathan W. Painter sold 7,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $330.25, for a total transaction of $2,311,750.00. Following the transaction, the director now owns 7,615 shares in the company, valued at $2,514,853.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Kadant news, Director Jonathan W. Painter sold 7,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $330.25, for a total transaction of $2,311,750.00. Following the sale, the director now owns 7,615 shares of the company’s stock, valued at approximately $2,514,853.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas C. Leonard sold 217 shares of the company’s stock in a transaction 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 owns 11,080 shares of the company’s stock, 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.