Kadant (NYSE:KAI) Releases Quarterly Earnings Results, Beats Estimates By $0.64 EPS

Kadant (NYSE:KAI) announced its quarterly earnings data on Tuesday. The industrial products company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.00 by $0.64, FiscalAI reports. The firm had revenue of $313.16 million during the quarter, compared to analyst estimates of $302.03 million. Kadant had a net margin of 9.52% and a return on equity of 13.16%.

Kadant Stock Performance

NYSE KAI traded down $0.96 on Tuesday, reaching $282.67. 210,554 shares of the company’s stock traded hands, compared to its average volume of 153,199. The stock has a 50 day moving average price of $274.89 and a 200-day moving average price of $306.56. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 30.39 and a beta of 1.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.63 and a current ratio of 2.59. Kadant has a fifty-two week low of $244.87 and a fifty-two week high of $354.07.

Kadant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, October 15th. Kadant’s payout ratio is presently 15.48%.

Analyst Ratings Changes

A number of research analysts have issued reports on KAI shares. Wall Street Zen raised shares of Kadant from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. Weiss Ratings downgraded Kadant from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Finally, DA Davidson raised their target price on Kadant from $306.00 to $335.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $357.50.

Kadant Company Profile

Kadant Inc (NYSE: KAI) is a global supplier of technologies and equipment used in the pulp and paper, recycling, and industrial processing industries. The company designs and manufactures products that help customers process fiber, manage fluids, improve production efficiency, and handle industrial materials.

Its offerings include systems and equipment for stock preparation, paper-machine cleaning, doctoring, filtration, water management, and fluid-handling applications. Kadant also provides material-handling and conveying equipment, as well as products used in recycling and other industrial processes.