Analysts forecast that Kadant Inc (NYSE:KAI) will post $144.50 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Kadant’s earnings, with the highest sales estimate coming in at $146.00 million and the lowest estimate coming in at $143.00 million. Kadant posted sales of $100.24 million during the same quarter last year, which suggests a positive year-over-year growth rate of 44.2%. The company is scheduled to report its next earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that Kadant will report full year sales of $144.50 million for the current year, with estimates ranging from $509.00 million to $511.90 million. For the next year, analysts expect that the company will report sales of $590.35 million per share, with estimates ranging from $583.00 million to $597.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Kadant.
Kadant (NYSE:KAI) last issued its earnings results on Monday, October 30th. The industrial products company reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.35. The business had revenue of $152.79 million during the quarter, compared to the consensus estimate of $141.33 million. Kadant had a return on equity of 14.84% and a net margin of 8.17%. The firm’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share.
A number of equities research analysts have weighed in on KAI shares. Zacks Investment Research upgraded Kadant from a “hold” rating to a “strong-buy” rating and set a $126.00 target price for the company in a report on Thursday, November 2nd. ValuEngine raised Kadant from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub cut Kadant from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Sidoti cut Kadant from a “buy” rating to a “neutral” rating and set a $102.00 price objective for the company. in a research note on Tuesday, October 3rd. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $104.67.
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Shares of Kadant (NYSE:KAI) opened at $99.90 on Wednesday. The firm has a market capitalization of $1,100.00, a P/E ratio of 25.34 and a beta of 1.43. The company has a quick ratio of 1.65, a current ratio of 2.35 and a debt-to-equity ratio of 0.84. Kadant has a 1-year low of $56.15 and a 1-year high of $114.00.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th were paid a $0.21 dividend. The ex-dividend date was Wednesday, October 11th. This represents a $0.84 dividend on an annualized basis and a yield of 0.84%. Kadant’s dividend payout ratio (DPR) is presently 24.93%.
In related news, VP Sandra L. Lambert sold 6,437 shares of Kadant stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $108.66, for a total transaction of $699,444.42. Following the transaction, the vice president now owns 20,942 shares of the company’s stock, valued at $2,275,557.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William P. Tully sold 1,250 shares of Kadant stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $89.60, for a total value of $112,000.00. Following the transaction, the director now directly owns 5,250 shares in the company, valued at approximately $470,400. The disclosure for this sale can be found here. Insiders sold 27,687 shares of company stock valued at $2,887,844 in the last three months. Insiders own 5.59% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Highbridge Capital Management LLC bought a new stake in Kadant during the third quarter worth $302,000. Epoch Investment Partners Inc. lifted its holdings in Kadant by 17.4% during the third quarter. Epoch Investment Partners Inc. now owns 180,967 shares of the industrial products company’s stock worth $17,834,000 after acquiring an additional 26,771 shares during the period. Invictus RG bought a new stake in Kadant during the third quarter worth $476,000. Pier Capital LLC bought a new stake in Kadant during the third quarter worth $6,105,000. Finally, Hillsdale Investment Management Inc. lifted its holdings in Kadant by 489.5% during the third quarter. Hillsdale Investment Management Inc. now owns 11,790 shares of the industrial products company’s stock worth $1,162,000 after acquiring an additional 9,790 shares during the period. Institutional investors and hedge funds own 92.09% of the company’s stock.
Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.
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