Kadant (NYSE:KAI – Get Free Report) announced its quarterly earnings results on Tuesday. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.64, FiscalAI reports. The firm had revenue of $313.16 million during the quarter, compared to the consensus estimate of $302.03 million. Kadant had a net margin of 9.52% and a return on equity of 13.16%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the firm posted $2.59 EPS.
Kadant Stock Down 0.3%
Shares of NYSE KAI opened at $282.67 on Wednesday. The firm’s 50-day simple moving average is $274.29 and its 200 day simple moving average is $306.40. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 30.39 and a beta of 1.19. The company has a quick ratio of 1.63, a current ratio of 2.59 and a debt-to-equity ratio of 0.49. Kadant has a 12-month low of $244.87 and a 12-month high of $354.07.
Kadant Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Thursday, October 15th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, October 15th. This represents a $1.44 annualized dividend and a yield of 0.5%. Kadant’s dividend payout ratio is 15.48%.
Wall Street Analyst Weigh In
KAI has been the subject of several recent analyst reports. DA Davidson raised their price objective on shares of Kadant from $306.00 to $335.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Wall Street Zen raised Kadant from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. Finally, Weiss Ratings downgraded Kadant from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 23rd. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Kadant currently has a consensus rating of “Hold” and an average price target of $357.50.
Read Our Latest Research Report on KAI
About Kadant
Kadant Inc (NYSE: KAI) is a global supplier of technologies and equipment used in the pulp and paper, recycling, and industrial processing industries. The company designs and manufactures products that help customers process fiber, manage fluids, improve production efficiency, and handle industrial materials.
Its offerings include systems and equipment for stock preparation, paper-machine cleaning, doctoring, filtration, water management, and fluid-handling applications. Kadant also provides material-handling and conveying equipment, as well as products used in recycling and other industrial processes.
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