Posted by admin on Jun 1st, 2022

Brokerages predict that Kadant Inc. (NYSE:KAI – Get Rating) will post $1.97 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Kadant’s earnings. The lowest EPS estimate is $1.91 and the highest is $2.01. Kadant reported earnings per share of $2.01 during the same quarter last year, which would suggest a negative year-over-year growth rate of 2%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Kadant will report full-year earnings of $8.90 per share for the current financial year, with EPS estimates ranging from $8.85 to $9.00. For the next year, analysts expect that the business will report earnings of $9.76 per share, with EPS estimates ranging from $9.13 to $10.30. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Kadant.

Kadant (NYSE:KAI – Get Rating) last released its earnings results on Tuesday, May 3rd. The industrial products company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.20. The company had revenue of $226.48 million during the quarter, compared to the consensus estimate of $215.17 million. Kadant had a return on equity of 17.88% and a net margin of 12.93%. Kadant’s revenue was up 31.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.43 EPS.

KAI has been the subject of several research reports. StockNews.com began coverage on shares of Kadant in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Barrington Research upped their price target on Kadant from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 5th. Zacks Investment Research cut Kadant from a “hold” rating to a “sell” rating in a research note on Tuesday, February 22nd. Finally, Seaport Res Ptn restated a “neutral” rating on shares of Kadant in a research note on Wednesday, May 4th.

In other Kadant news, SVP Stacy D. Krause sold 1,415 shares of the firm’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $200.00, for a total value of $283,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dara F. Mitchell sold 1,480 shares of the stock in a transaction dated Friday, March 18th. The shares were sold at an average price of $200.00, for a total transaction of $296,000.00. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. grew its holdings in Kadant by 2.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 25,893 shares of the industrial products company’s stock valued at $2,277,000 after purchasing an additional 638 shares during the last quarter. Morgan Stanley raised its position in Kadant by 84.2% during the second quarter. Morgan Stanley now owns 24,492 shares of the industrial products company’s stock worth $4,314,000 after acquiring an additional 11,194 shares during the last quarter. Advisor Group Holdings Inc. grew its position in shares of Kadant by 76.1% in the third quarter. Advisor Group Holdings Inc. now owns 553 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 239 shares during the last quarter. Barclays PLC increased its stake in shares of Kadant by 246.8% during the 3rd quarter. Barclays PLC now owns 7,629 shares of the industrial products company’s stock worth $1,557,000 after purchasing an additional 5,429 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Kadant by 0.8% during the 3rd quarter. Alliancebernstein L.P. now owns 25,860 shares of the industrial products company’s stock worth $5,278,000 after purchasing an additional 200 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

KAI traded up $2.79 during trading hours on Wednesday, hitting $187.89. 314 shares of the company’s stock were exchanged, compared to its average volume of 29,974. The firm has a market cap of $2.19 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 2.61 and a beta of 1.24. Kadant has a 12-month low of $166.12 and a 12-month high of $240.47. The company has a current ratio of 1.80, a quick ratio of 1.14 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $189.38 and a 200 day moving average of $205.74.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Thursday, July 14th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, July 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.55%. Kadant’s payout ratio is currently 11.17%.

Kadant Company Profile (Get Rating)

Kadant Inc supplies technologies and engineered systems worldwide. It operates through 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, shower and fabric-conditioning systems, formation systems, and water-filtration systems.

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