Kadant (NYSE:KAI) Issues FY 2019 Earnings Guidance

Kadant (NYSE:KAI) updated its FY 2019 earnings guidance on Tuesday. The company provided EPS guidance of $5.26-5.38 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.37. The company issued revenue guidance of $700-710 million, compared to the consensus revenue estimate of $705.07 million.Kadant also updated its Q3 2019 guidance to $1.20-1.26 EPS.

A number of analysts have issued reports on KAI shares. Zacks Investment Research cut shares of HEXO from a hold rating to a sell rating in a research note on Wednesday, May 15th. ValuEngine upgraded shares of XPO Logistics from a strong sell rating to a sell rating in a research note on Thursday, April 4th. Finally, Seaport Global Securities cut shares of Kadant from a buy rating to a neutral rating and set a $97.09 target price for the company. in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $103.55.

NYSE KAI traded up $0.77 during trading on Tuesday, reaching $87.04. The company’s stock had a trading volume of 70,100 shares, compared to its average volume of 68,616. The company has a quick ratio of 1.35, a current ratio of 2.07 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $969.49 million, a PE ratio of 15.77 and a beta of 1.24. The stock has a 50-day simple moving average of $89.23. Kadant has a 1-year low of $76.44 and a 1-year high of $111.85.

Kadant (NYSE:KAI) last posted its earnings results on Monday, April 29th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.11. The firm had revenue of $171.30 million during the quarter, compared to analysts’ expectations of $164.37 million. Kadant had a net margin of 9.22% and a return on equity of 17.26%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 earnings per share. On average, sell-side analysts expect that Kadant will post 5.31 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, July 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Wednesday, July 10th.

In other news, Chairman Jonathan W. Painter sold 2,700 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $91.57, for a total value of $247,239.00. Following the completion of the sale, the chairman now directly owns 96,017 shares in the company, valued at $8,792,276.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Jonathan W. Painter sold 3,210 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $91.51, for a total transaction of $293,747.10. Following the completion of the sale, the chairman now owns 96,017 shares of the company’s stock, valued at $8,786,515.67. The disclosure for this sale can be found here. Insiders sold 81,949 shares of company stock valued at $7,392,752 over the last quarter. Corporate insiders own 5.50% of the company’s stock.

About Kadant

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.

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Earnings History and Estimates for Kadant (NYSE:KAI)

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