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

Kadant (NYSE:KAI) updated its FY 2020
After-Hours earnings guidance on Wednesday. The company provided EPS guidance of 5.00-5.10 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.97. The company issued revenue guidance of $690-700 million, compared to the consensus revenue estimate of $716.32 million.Kadant also updated its FY20 guidance to $5.00-5.10 EPS.

Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded Kadant from a sell rating to a hold rating in a research note on Tuesday, November 5th. ValuEngine upgraded Kadant from a sell rating to a hold rating in a research report on Thursday. DA Davidson reiterated a neutral rating and issued a $97.00 price objective on shares of Kadant in a research report on Friday. Sidoti cut their price objective on Kadant from $107.00 to $91.00 and set a neutral rating for the company in a research report on Thursday. Finally, Barrington Research cut their price objective on Kadant from $107.00 to $105.00 and set an outperform rating for the company in a research report on Friday. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $97.22.

NYSE:KAI traded up $4.42 during trading hours on Friday, hitting $100.24. The company’s stock had a trading volume of 137,241 shares, compared to its average volume of 73,008. The business’s 50-day moving average is $108.64 and its two-hundred day moving average is $94.71. The company has a market capitalization of $1.25 billion, a PE ratio of 18.56 and a beta of 1.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.27 and a current ratio of 2.03. Kadant has a 52-week low of $77.67 and a 52-week high of $114.05.

Kadant (NYSE:KAI) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.04. The firm had revenue of $182.70 million during the quarter, compared to analysts’ expectations of $173.38 million. Kadant had a return on equity of 16.76% and a net margin of 9.00%. Kadant’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 earnings per share. As a group, analysts predict that Kadant will post 5.35 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Thursday, January 9th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.92%. The ex-dividend date was Wednesday, January 8th.

In other news, Chairman Jonathan W. Painter sold 3,804 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $94.54, for a total value of $359,630.16. Following the completion of the transaction, the chairman now owns 96,311 shares in the company, valued at $9,105,241.94. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas C. Leonard sold 3,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $105.12, for a total value of $315,360.00. Following the completion of the transaction, the director now owns 12,924 shares of the company’s stock, valued at approximately $1,358,570.88. The disclosure for this sale can be found here. Insiders sold 57,391 shares of company stock valued at $6,091,881 in the last quarter. 5.50% of the stock is currently 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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