Kadant (NYSE:KAI) issued an update on its FY18 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $5.00-$5.10 for the period, compared to the Thomson Reuters consensus estimate of $5.11. The company issued revenue guidance of $630-$638 million, compared to the consensus revenue estimate of $632.33 million.
NYSE:KAI traded down $1.15 on Monday, reaching $95.65. 22,204 shares of the company’s stock traded hands, compared to its average volume of 50,844. The company has a quick ratio of 1.38, a current ratio of 2.10 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.07 billion, a PE ratio of 21.30 and a beta of 1.37. Kadant has a 12 month low of $76.40 and a 12 month high of $114.00.
Kadant (NYSE:KAI) last posted its quarterly earnings results on Tuesday, May 1st. The industrial products company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.11. The business had revenue of $149.19 million for the quarter, compared to analysts’ expectations of $145.42 million. Kadant had a return on equity of 16.27% and a net margin of 5.88%. The business’s quarterly revenue was up 45.0% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share. sell-side analysts anticipate that Kadant will post 5.2 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 9th. Shareholders of record on Thursday, July 12th will be issued a dividend of $0.22 per share. The ex-dividend date is Wednesday, July 11th. This represents a $0.88 dividend on an annualized basis and a yield of 0.92%. Kadant’s dividend payout ratio is presently 19.60%.
A number of equities research analysts have commented on KAI shares. Zacks Investment Research cut Kadant from a buy rating to a hold rating in a report on Wednesday, May 2nd. Barrington Research reissued a buy rating and set a $112.00 price target on shares of Kadant in a report on Tuesday, May 15th.
In other Kadant news, Director William P. Tully sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 2nd. The stock was sold at an average price of $94.39, for a total transaction of $188,780.00. Following the sale, the director now directly owns 4,750 shares of the company’s stock, valued at $448,352.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.40% of the stock is owned by company insiders.
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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