Kadant (NYSE:KAI – Get Free Report) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.40-$2.50 for the period, compared to the consensus estimate of $2.56. The company issued revenue guidance of $258-$266 million, compared to the consensus revenue estimate of $266.46 million. Kadant also updated its FY24 guidance to $9.75-$10.05 EPS.
Kadant Price Performance
Shares of Kadant stock traded down $13.37 on Tuesday, hitting $273.79. 125,005 shares of the company were exchanged, compared to its average volume of 92,549. The company has a quick ratio of 1.34, a current ratio of 2.05 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $311.80 and a 200 day moving average price of $282.12. The stock has a market capitalization of $3.21 billion, a price-to-earnings 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.
Kadant (NYSE:KAI – Get Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The industrial products company reported $2.41 EPS for the quarter, topping 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 business had revenue of $238.68 million for the quarter, compared to analyst estimates of $227.54 million. As a group, sell-side analysts predict that Kadant will post 9.96 earnings per share for the current fiscal year.
Kadant Increases Dividend
Wall Street Analyst Weigh In
Several research firms recently issued reports on KAI. Barrington Research reissued an outperform rating and set a $360.00 target price on shares of Kadant in a research note on Monday. StockNews.com lowered shares of Kadant from a buy rating to a hold rating in a research note on Thursday, January 4th.
Insider Buying and Selling
In related news, Director Jonathan W. Painter sold 7,000 shares of Kadant stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 7,615 shares in the company, valued at approximately $2,514,853.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kadant news, Director Thomas C. Leonard sold 217 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $323.81, for a total transaction of $70,266.77. Following the sale, the director now directly owns 11,080 shares of the company’s stock, valued at approximately $3,587,814.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan W. Painter sold 7,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 7,615 shares of the company’s stock, valued at approximately $2,514,853.75. The disclosure for this sale can be found here. Insiders have sold 8,798 shares of company stock worth $2,899,004 in the last three months. Corporate 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.
See Also
- Five stocks we like better than Kadant
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- NXP Semiconductors Will Set a New High Soon: $300 in Sight
- The Role Economic Reports Play in a Successful Investment Strategy
- Hilton Demonstrates Asset Light is Right for Investors
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Boston Scientific Bucks the Medtech Slow Down and Raises Outlook
Receive News & Ratings for Kadant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant and related companies with MarketBeat.com's FREE daily email newsletter.