Kadant Inc. (KAI) Expected to Announce Earnings of $0.64 Per Share
Equities analysts forecast that Kadant Inc. (NYSE:KAI) will announce earnings of $0.64 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Kadant’s earnings. The lowest EPS estimate is $0.64 and the highest is $0.65. Kadant reported earnings of $0.72 per share in the same quarter last year, which indicates a negative year over year growth rate of 11.1%. The company is scheduled to report its next quarterly earnings report on Monday, May 1st.
According to Zacks, analysts expect that Kadant will report full-year earnings of $3.25 per share for the current fiscal year, with EPS estimates ranging from $3.20 to $3.34. For the next year, analysts anticipate that the company will post earnings of $3.57 per share, with EPS estimates ranging from $3.45 to $3.67. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Kadant.
Kadant (NYSE:KAI) last posted its quarterly earnings data on Thursday, February 23rd. The industrial products company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. The firm earned $100.24 million during the quarter, compared to analysts’ expectations of $102.96 million. Kadant had a return on equity of 13.36% and a net margin of 8.24%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS.
Separately, Zacks Investment Research raised Kadant from a “sell” rating to a “hold” rating in a research report on Wednesday, March 15th.
A number of hedge funds and other institutional investors have recently modified their holdings of KAI. Macquarie Group Ltd. raised its position in shares of Kadant by 7.2% in the fourth quarter. Macquarie Group Ltd. now owns 487,135 shares of the industrial products company’s stock valued at $29,813,000 after buying an additional 32,796 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Kadant during the fourth quarter valued at $476,000. Teachers Advisors LLC raised 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 last quarter. Putnam Investments LLC raised its position in shares of Kadant by 1.9% in the fourth quarter. Putnam Investments LLC now owns 74,736 shares of the industrial products company’s stock valued at $4,574,000 after buying an additional 1,377 shares during the last quarter. Finally, Thrivent Financial for Lutherans purchased a new position in shares of Kadant during the fourth quarter valued at $2,428,000. 90.14% of the stock is currently owned by institutional investors.
Kadant (NYSE:KAI) traded up 1.61% during mid-day trading on Monday, reaching $59.95. The company had a trading volume of 45,673 shares. The firm has a market capitalization of $655.67 million, a P/E ratio of 20.82 and a beta of 1.30. Kadant has a 12 month low of $45.06 and a 12 month high of $64.75. The stock’s 50-day moving average is $58.83 and its 200 day moving average is $59.09.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 11th. Shareholders of record on Thursday, April 13th will be given a $0.21 dividend. This is a positive change from Kadant’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, April 11th. Kadant’s dividend payout ratio is presently 24.28%.
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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