Kadant (NYSE:KAI) Issues Q1 2020 After-Hours Earnings Guidance

Kadant (NYSE:KAI) issued an update on its first quarter 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.80-1.08 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.28. The company issued revenue guidance of $153-163 million, compared to the consensus revenue estimate of $169.59 million.Kadant also updated its FY 2020
After-Hours guidance to 5.00-5.10 EPS.

Shares of NYSE:KAI traded up $4.42 during trading on Friday, reaching $100.24. The stock had a trading volume of 137,241 shares, compared to its average volume of 73,008. Kadant has a one year low of $77.67 and a one year high of $114.05. The company has a market capitalization of $1.25 billion, a P/E ratio of 18.56 and a beta of 1.32. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.77. The firm’s 50-day simple moving average is $108.64 and its 200 day simple moving average is $94.71.

Kadant (NYSE:KAI) last released its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. Kadant had a net margin of 9.00% and a return on equity of 16.76%. The business had revenue of $182.70 million for the quarter, compared to analysts’ expectations of $173.38 million. During the same period last year, the business earned $1.66 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. Equities research analysts forecast that Kadant will post 5.35 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Thursday, January 9th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Wednesday, January 8th.

A number of analysts have recently weighed in on KAI shares. Zacks Investment Research upgraded shares of Kadant from a sell rating to a hold rating in a report on Tuesday, November 5th. DA Davidson restated a neutral rating and issued a $97.00 price target on shares of Kadant in a report on Friday. ValuEngine upgraded shares of Kadant from a sell rating to a hold rating in a report on Thursday. Sidoti lowered their price target on shares of Kadant from $107.00 to $91.00 and set a neutral rating on the stock in a report on Thursday. Finally, Barrington Research lowered their price target on shares of Kadant from $107.00 to $105.00 and set an outperform rating on the stock in a report on Friday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $97.22.

In related news, Director Thomas C. Leonard sold 2,000 shares of Kadant stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $110.71, for a total value of $221,420.00. Following the completion of the sale, the director now directly owns 10,629 shares in the company, valued at approximately $1,176,736.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jonathan W. Painter sold 5,208 shares of Kadant stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $111.41, for a total transaction of $580,223.28. Following the completion of the sale, the chairman now owns 31,756 shares of the company’s stock, valued at $3,537,935.96. The disclosure for this sale can be found here. Insiders sold a total of 57,391 shares of company stock valued at $6,091,881 over the last quarter. 5.50% of the stock is owned by company insiders.

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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