$219.37 Million in Sales Expected for Kadant Inc. (NYSE:KAI) This Quarter

Wall Street brokerages expect Kadant Inc. (NYSE:KAIGet Rating) to report $219.37 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Kadant’s earnings. The lowest sales estimate is $217.42 million and the highest is $221.20 million. Kadant reported sales of $195.81 million in the same quarter last year, which would suggest a positive year over year growth rate of 12%. The business is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Kadant will report full-year sales of $899.84 million for the current year, with estimates ranging from $894.78 million to $904.89 million. For the next year, analysts forecast that the firm will post sales of $951.38 million, with estimates ranging from $940.40 million to $965.27 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Kadant.

Kadant (NYSE:KAIGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.08 by $0.20. Kadant had a return on equity of 17.88% and a net margin of 12.93%. The business had revenue of $226.48 million for the quarter, compared to analyst estimates of $215.17 million. During the same quarter in the prior year, the company posted $1.43 EPS. The company’s quarterly revenue was up 31.3% on a year-over-year basis.

Several brokerages have recently commented on KAI. Zacks Investment Research lowered Kadant from a “hold” rating to a “sell” rating in a research note on Tuesday, February 22nd. Seaport Res Ptn reissued a “neutral” rating on shares of Kadant in a research note on Wednesday, May 4th. StockNews.com assumed coverage on Kadant in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Barrington Research increased their target price on Kadant from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 5th.

In related news, SVP Stacy D. Krause sold 1,415 shares of the firm’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $200.00, for a total transaction of $283,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Dara F. Mitchell sold 1,480 shares of the firm’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $200.00, for a total value of $296,000.00. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Horan Securities Inc. acquired a new stake in Kadant during the 4th quarter worth approximately $25,000. Russell Investments Group Ltd. acquired a new stake in Kadant during the 1st quarter worth approximately $26,000. USA Financial Portformulas Corp acquired a new stake in Kadant during the 4th quarter worth approximately $33,000. FinTrust Capital Advisors LLC lifted its position in Kadant by 39.3% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 227 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 64 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in Kadant during the 1st quarter worth approximately $47,000. 93.93% of the stock is owned by institutional investors.

Shares of Kadant stock opened at $190.35 on Friday. Kadant has a 52 week low of $167.37 and a 52 week high of $240.47. The business’s fifty day simple moving average is $189.00 and its 200-day simple moving average is $205.39. The firm has a market cap of $2.22 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 2.60 and a beta of 1.23. The company has a quick ratio of 1.14, a current ratio of 1.80 and a debt-to-equity ratio of 0.41.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Thursday, July 14th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, July 13th. This represents a $1.04 annualized dividend and a yield of 0.55%. Kadant’s dividend payout ratio (DPR) is 11.17%.

About Kadant (Get Rating)

Kadant Inc supplies technologies and engineered systems worldwide. It operates through three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables, consisting of doctor systems and holders, doctor blades, shower and fabric-conditioning systems, formation systems, and water-filtration systems.

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