Wall Street analysts expect Kadant (NYSE:KAI) to announce earnings per share of $0.96 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Kadant’s earnings. The highest EPS estimate is $0.97 and the lowest is $0.95. Kadant posted earnings per share of $0.80 during the same quarter last year, which would indicate a positive year-over-year growth rate of 20%. The business is scheduled to report its next quarterly earnings report on Tuesday, May 1st.
On average, analysts expect that Kadant will report full-year earnings of $5.02 per share for the current year, with EPS estimates ranging from $4.97 to $5.05. For the next financial year, analysts anticipate that the company will report earnings of $5.52 per share, with EPS estimates ranging from $5.49 to $5.55. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Kadant.
Kadant (NYSE:KAI) last announced its earnings results on Thursday, February 15th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.06. Kadant had a return on equity of 15.93% and a net margin of 6.04%. The company had revenue of $149.14 million for the quarter, compared to analyst estimates of $144.50 million.
A number of brokerages have recently weighed in on KAI. Zacks Investment Research raised Kadant from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a report on Wednesday, March 28th. Barrington Research reissued an “outperform” rating and issued a $110.00 price objective on shares of Kadant in a report on Thursday, March 1st. Finally, ValuEngine raised Kadant from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $105.33.
In other news, insider Jeffrey L. Powell sold 7,277 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $100.38, for a total value of $730,465.26. Following the transaction, the insider now directly owns 7,102 shares of the company’s stock, valued at $712,898.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey L. Powell sold 6,102 shares of the stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $101.41, for a total value of $618,803.82. Following the completion of the transaction, the insider now directly owns 5,000 shares in the company, valued at $507,050. The disclosure for this sale can be found here. Insiders sold 15,854 shares of company stock worth $1,607,931 over the last three months. Corporate insiders own 5.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Kadant in the fourth quarter valued at about $104,000. Meeder Asset Management Inc. boosted its stake in shares of Kadant by 264.1% in the fourth quarter. Meeder Asset Management Inc. now owns 1,653 shares of the industrial products company’s stock worth $166,000 after buying an additional 1,199 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Kadant in the third quarter worth about $302,000. Teacher Retirement System of Texas purchased a new stake in shares of Kadant in the fourth quarter worth about $380,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Kadant in the fourth quarter worth about $405,000. 90.70% of the stock is currently owned by institutional investors and hedge funds.
NYSE:KAI traded up $1.50 during mid-day trading on Tuesday, hitting $97.75. 4,741 shares of the company’s stock traded hands, compared to its average volume of 59,095. Kadant has a twelve month low of $58.00 and a twelve month high of $114.00. The firm has a market capitalization of $1,040.49, a P/E ratio of 21.79 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.01 and a quick ratio of 1.37.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Thursday, April 12th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, April 11th. This is a positive change from Kadant’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.90%. Kadant’s dividend payout ratio is currently 19.60%.
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Kadant Company Profile
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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