Kadant Inc. (NYSE:KAI) Expected to Post Earnings of $1.11 Per Share

Equities analysts predict that Kadant Inc. (NYSE:KAI) will announce earnings per share of $1.11 for the current quarter, according to Zacks. Three analysts have issued estimates for Kadant’s earnings, with the lowest EPS estimate coming in at $1.09 and the highest estimate coming in at $1.13. Kadant reported earnings of $1.07 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.7%. The firm is expected to report its next earnings results on Monday, July 29th.

On average, analysts expect that Kadant will report full-year earnings of $5.31 per share for the current fiscal year, with EPS estimates ranging from $5.28 to $5.35. For the next fiscal year, analysts expect that the firm will report earnings of $6.15 per share, with EPS estimates ranging from $5.83 to $6.37. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Kadant.

Kadant (NYSE:KAI) last released its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.11. Kadant had a net margin of 9.22% and a return on equity of 17.26%. The business had revenue of $171.30 million for the quarter, compared to analysts’ expectations of $164.37 million. During the same period last year, the business earned $1.07 EPS. The company’s revenue was up 14.8% compared to the same quarter last year.

A number of analysts have recently weighed in on KAI shares. ValuEngine upgraded shares of XPO Logistics from a “strong sell” rating to a “sell” rating in a report on Thursday, April 4th. Zacks Investment Research cut shares of HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, Seaport Global Securities cut shares of Kadant from a “buy” rating to a “neutral” rating and set a $97.09 price target on the stock. in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Kadant has an average rating of “Hold” and an average target price of $103.55.

Shares of NYSE:KAI traded down $0.10 during trading on Wednesday, reaching $88.89. The stock had a trading volume of 29,203 shares, compared to its average volume of 79,309. Kadant has a one year low of $76.44 and a one year high of $111.85. The firm has a market cap of $994.41 million, a P/E ratio of 16.18 and a beta of 1.24. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.07 and a quick ratio of 1.35. The stock has a 50-day moving average of $87.74.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Wednesday, July 10th.

In related news, insider Michael J. Mckenney sold 2,261 shares of Kadant stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $86.12, for a total value of $194,717.32. Following the completion of the sale, the insider now directly owns 17,318 shares in the company, valued at approximately $1,491,426.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan W. Painter sold 16,243 shares of Kadant stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $90.50, for a total transaction of $1,469,991.50. Following the completion of the sale, the chief executive officer now owns 95,259 shares of the company’s stock, valued at $8,620,939.50. The disclosure for this sale can be found here. Insiders sold a total of 81,949 shares of company stock worth $7,392,752 over the last 90 days. Company insiders own 5.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. boosted its stake in Kadant by 7.5% in the 1st quarter. Wasatch Advisors Inc. now owns 1,123,588 shares of the industrial products company’s stock worth $98,831,000 after purchasing an additional 78,147 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Kadant by 11.6% in the 4th quarter. Macquarie Group Ltd. now owns 704,600 shares of the industrial products company’s stock worth $57,396,000 after purchasing an additional 73,020 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Kadant by 5.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 644,300 shares of the industrial products company’s stock worth $58,509,000 after purchasing an additional 36,000 shares in the last quarter. Royce & Associates LP boosted its stake in Kadant by 2.8% in the 1st quarter. Royce & Associates LP now owns 589,315 shares of the industrial products company’s stock worth $51,836,000 after purchasing an additional 16,030 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Kadant by 0.9% in the 1st quarter. Wells Fargo & Company MN now owns 420,842 shares of the industrial products company’s stock worth $37,016,000 after purchasing an additional 3,851 shares in the last quarter. Institutional investors own 92.43% of the company’s stock.

About Kadant

Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.

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Earnings History and Estimates for Kadant (NYSE:KAI)

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