Kadant Inc. (KAI) Expected to Post Earnings of $1.14 Per Share
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.
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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.
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