$141.55 Million in Sales Expected for Kadant Inc (NYSE:KAI) This Quarter
Brokerages expect Kadant Inc (NYSE:KAI) to report sales of $141.55 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Kadant’s earnings, with estimates ranging from $141.49 million to $141.60 million. Kadant posted sales of $105.52 million during the same quarter last year, which indicates a positive year-over-year growth rate of 34.1%. The business is expected to issue its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Kadant will report full year sales of $141.55 million for the current year, with estimates ranging from $490.10 million to $491.37 million. For the next financial year, analysts expect that the company will post sales of $555.18 million per share, with estimates ranging from $543.10 million to $567.25 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Kadant.
Kadant (NYSE:KAI) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.13. Kadant had a net margin of 8.10% and a return on equity of 12.92%. The firm had revenue of $110.24 million for the quarter, compared to analysts’ expectations of $113.49 million. During the same period in the prior year, the company posted $0.88 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis.
Several research firms have recently weighed in on KAI. Zacks Investment Research raised Kadant from a “hold” rating to a “strong-buy” rating and set a $98.00 price objective for the company in a research report on Saturday, August 5th. BidaskClub cut Kadant from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. William Blair raised Kadant from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 3rd. Sidoti reissued a “buy” rating and issued a $95.00 price objective (up from $85.00) on shares of Kadant in a research report on Saturday, June 3rd. Finally, Barrington Research increased their price objective on Kadant from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, May 31st. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $77.20.
Shares of Kadant (NYSE:KAI) opened at 85.40 on Friday. The firm’s 50-day moving average is $78.95 and its 200 day moving average is $68.66. The company has a market cap of $939.49 million, a price-to-earnings ratio of 28.19 and a beta of 1.36. Kadant has a 1-year low of $49.20 and a 1-year high of $89.90.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Thursday, July 13th were given a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, July 11th. This represents a $0.84 annualized dividend and a yield of 0.98%. Kadant’s dividend payout ratio (DPR) is currently 27.72%.
Kadant declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 17th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. boosted its position in shares of Kadant by 24.2% in the second quarter. Citigroup Inc. now owns 1,411 shares of the industrial products company’s stock valued at $106,000 after buying an additional 275 shares during the period. AlphaOne Investment Services LLC boosted its position in shares of Kadant by 0.8% in the second quarter. AlphaOne Investment Services LLC now owns 44,943 shares of the industrial products company’s stock valued at $3,380,000 after buying an additional 350 shares during the period. American International Group Inc. boosted its position in shares of Kadant by 7.1% in the first quarter. American International Group Inc. now owns 6,601 shares of the industrial products company’s stock valued at $392,000 after buying an additional 435 shares during the period. California Public Employees Retirement System boosted its position in shares of Kadant by 3.0% in the second quarter. California Public Employees Retirement System now owns 17,300 shares of the industrial products company’s stock valued at $1,301,000 after buying an additional 500 shares during the period. Finally, Teachers Advisors LLC boosted its position in shares of Kadant by 3.1% in the fourth quarter. Teachers Advisors LLC now owns 17,527 shares of the industrial products company’s stock valued at $1,073,000 after buying an additional 523 shares during the period. 91.45% of the stock is owned by hedge funds and other institutional investors.
Kadant Company Profile
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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