Analysts expect Kadant Inc. (NYSE:KAI) to post earnings of $1.14 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Kadant’s earnings. The lowest EPS estimate is $1.13 and the highest is $1.15. Kadant reported earnings of $0.81 per share during the same quarter last year, which indicates a positive year over year growth rate of 40.7%. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 7th.

According to Zacks, analysts expect that Kadant will report full year earnings of $4.03 per share for the current year, with EPS estimates ranging from $4.00 to $4.05. For the next financial year, analysts forecast that the firm will report earnings of $4.48 per share, with EPS estimates ranging from $4.45 to $4.51. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Kadant.

Kadant (NYSE:KAI) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Kadant had a net margin of 7.44% and a return on equity of 10.77%. The business had revenue of $110.24 million during the quarter, compared to the consensus estimate of $113.49 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year.

A number of brokerages have recently issued reports on KAI. BidaskClub cut shares of Kadant from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research cut shares of Kadant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Sidoti restated a “buy” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Kadant in a research note on Saturday, June 3rd. Finally, Barrington Research increased their price objective on shares of Kadant from $80.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, May 31st. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Kadant has an average rating of “Buy” and a consensus target price of $82.00.

Shares of Kadant (NYSE KAI) traded up 0.23% during midday trading on Tuesday, hitting $87.05. 35,775 shares of the company were exchanged. Kadant has a one year low of $49.19 and a one year high of $89.90. The stock’s 50-day moving average is $82.21 and its 200-day moving average is $70.94. The stock has a market cap of $957.90 million, a PE ratio of 28.74 and a beta of 1.36.

Kadant declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 17th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the industrial products company to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

WARNING: This piece was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international trademark and copyright law. The legal version of this piece can be read at https://www.watchlistnews.com/kadant-inc-kai-expected-to-post-earnings-of-1-14-per-share/1536694.html.

Several institutional investors have recently made changes to their positions in KAI. 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 worth $106,000 after buying an additional 275 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Kadant during the second quarter worth about $127,000. BNP Paribas Arbitrage SA boosted its position in shares of Kadant by 718.3% in the second quarter. BNP Paribas Arbitrage SA now owns 1,743 shares of the industrial products company’s stock worth $131,000 after buying an additional 1,530 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Kadant during the second quarter worth about $150,000. Finally, Victory Capital Management Inc. boosted its position in shares of Kadant by 30.0% in the first quarter. Victory Capital Management Inc. now owns 2,969 shares of the industrial products company’s stock worth $176,000 after buying an additional 686 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

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.

Get a free copy of the Zacks research report on Kadant (KAI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Kadant (NYSE:KAI)

Receive News & Ratings for Kadant Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kadant Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.