Zacks: Brokerages Anticipate Kadant Inc. (KAI) to Post $1.13 Earnings Per Share

Analysts forecast that Kadant Inc. (NYSE:KAI) will report earnings of $1.13 per share for the current quarter, according to Zacks. Three analysts have issued estimates for Kadant’s earnings, with estimates ranging from $1.12 to $1.15. Kadant reported earnings of $1.07 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 5.6%. The company is expected to announce its next earnings results on Monday, April 29th.

According to Zacks, analysts expect that Kadant will report full year earnings of $5.31 per share for the current financial year, with EPS estimates ranging from $5.28 to $5.35. For the next fiscal year, analysts expect that the business will post earnings of $6.26 per share, with EPS estimates ranging from $6.19 to $6.34. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Kadant.

Kadant (NYSE:KAI) last released its earnings results on Thursday, February 14th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.31. The firm had revenue of $163.94 million during the quarter, compared to analyst estimates of $160.67 million. Kadant had a return on equity of 17.14% and a net margin of 9.53%. Kadant’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business posted $1.14 earnings per share.

A number of research analysts recently issued reports on KAI shares. Barrington Research reiterated a “buy” rating and issued a $112.00 target price on shares of Kadant in a report on Monday, January 28th. ValuEngine upgraded Kadant from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Finally, Zacks Investment Research lowered Kadant from a “hold” rating to a “sell” rating in a report on Friday, February 22nd.

In other Kadant news, Director William P. Tully sold 1,500 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $88.36, for a total value of $132,540.00. Following the sale, the director now directly owns 5,200 shares in the company, valued at $459,472. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.50% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of KAI. GSA Capital Partners LLP raised its stake in Kadant by 40.3% in the third quarter. GSA Capital Partners LLP now owns 3,448 shares of the industrial products company’s stock valued at $372,000 after buying an additional 990 shares in the last quarter. Allianz Asset Management GmbH raised its stake in Kadant by 7.0% in the third quarter. Allianz Asset Management GmbH now owns 43,654 shares of the industrial products company’s stock valued at $4,708,000 after buying an additional 2,854 shares in the last quarter. MetLife Investment Advisors LLC raised its stake in Kadant by 60.5% in the third quarter. MetLife Investment Advisors LLC now owns 7,504 shares of the industrial products company’s stock valued at $809,000 after buying an additional 2,829 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in Kadant in the third quarter valued at $218,000. Finally, Macquarie Group Ltd. raised its stake in Kadant by 12.3% in the third quarter. Macquarie Group Ltd. now owns 631,580 shares of the industrial products company’s stock valued at $68,116,000 after buying an additional 69,325 shares in the last quarter. Institutional investors own 93.35% of the company’s stock.

NYSE:KAI traded up $1.04 during midday trading on Tuesday, reaching $94.50. The company had a trading volume of 93,400 shares, compared to its average volume of 60,827. The firm has a market cap of $1.05 billion, a PE ratio of 17.49 and a beta of 1.08. Kadant has a 12-month low of $76.44 and a 12-month high of $111.85. The company has a current ratio of 1.96, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Tuesday, April 9th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, April 8th. This is a boost from Kadant’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 0.97%.

Kadant Company Profile

Kadant Inc supplies equipment and critical components used in papermaking, paper recycling, recycling and waste management, and other process industries worldwide. The company operates in two segments, Papermaking Systems and Wood Processing Systems. The Papermaking Systems segment develops, manufactures, and markets custom-engineered stock-preparation systems and equipment for the preparation of wastepaper for conversion into recycled paper and balers, as well as related equipment used in the processing of recyclable and waste materials; and fluid-handling systems and equipment used in industrial piping systems to compensate for movement, as well as to transfer fluid, power, and data.

Recommended Story: Leveraged Buyout (LBO)

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

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