Posted by admin on May 13th, 2022

Wall Street analysts forecast that Kadant Inc. (NYSE:KAI – Get Rating) will announce sales of $219.37 million for the current quarter, Zacks reports. Three analysts have provided estimates for Kadant’s earnings. The highest sales estimate is $221.20 million and the lowest is $217.42 million. Kadant posted sales of $195.81 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Kadant will report full year sales of $899.84 million for the current financial year, with estimates ranging from $894.78 million to $904.89 million. For the next financial year, analysts expect that the business will post sales of $951.38 million, with estimates ranging from $940.40 million to $965.27 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Kadant.

Kadant (NYSE:KAI – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.20. The firm had revenue of $226.48 million during the quarter, compared to analysts’ expectations of $215.17 million. Kadant had a return on equity of 18.31% and a net margin of 12.93%. The firm’s quarterly revenue was up 31.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.43 EPS.

A number of equities research analysts recently weighed in on the company. StockNews.com assumed coverage on Kadant in a research note on Thursday, March 31st. They set a “buy” rating for the company. Zacks Investment Research lowered Kadant from a “hold” rating to a “sell” rating in a research report on Tuesday, February 22nd. Barrington Research upped their target price on Kadant from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 5th. Finally, Seaport Res Ptn reaffirmed a “neutral” rating on shares of Kadant in a research report on Wednesday, May 4th.

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

Several institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of Kadant by 1.8% in the first quarter. Victory Capital Management Inc. now owns 3,536 shares of the industrial products company’s stock worth $654,000 after buying an additional 63 shares during the last quarter. FinTrust Capital Advisors LLC boosted its stake in shares of Kadant by 39.3% in the third quarter. FinTrust Capital Advisors LLC now owns 227 shares of the industrial products company’s stock worth $46,000 after buying an additional 64 shares during the last quarter. Horan Securities Inc. purchased a new stake in shares of Kadant in the fourth quarter worth about $25,000. Russell Investments Group Ltd. purchased a new stake in shares of Kadant in the first quarter worth about $26,000. Finally, USA Financial Portformulas Corp purchased a new stake in shares of Kadant in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Shares of NYSE KAI opened at $185.71 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.13. The stock has a market capitalization of $2.17 billion, a P/E ratio of 19.95, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. Kadant has a 1-year low of $163.17 and a 1-year high of $240.47. The business has a fifty day moving average price of $193.62 and a 200 day moving average price of $209.83.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 11th. Investors of record on Wednesday, April 13th were given a dividend of $0.26 per share. This is a positive change from Kadant’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, April 12th. Kadant’s dividend 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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