Kadant (NYSE:KAI) Releases Q1 2020 After-Hours Earnings Guidance

Kadant (NYSE:KAI) updated its first quarter 2020
After-Hours earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.80-1.08 for the period, compared to the Thomson Reuters consensus estimate of $1.28. The company issued revenue guidance of $153-163 million, compared to the consensus revenue estimate of $169.59 million.Kadant also updated its FY 2020
After-Hours guidance to 5.00-5.10 EPS.

A number of research analysts recently weighed in on the company. ValuEngine raised Kadant from a sell rating to a hold rating in a report on Thursday. DA Davidson reaffirmed a neutral rating and set a $97.00 price objective on shares of Kadant in a report on Friday. Zacks Investment Research raised Kadant from a sell rating to a hold rating in a report on Tuesday, November 5th. Barrington Research dropped their price objective on Kadant from $107.00 to $105.00 and set an outperform rating on the stock in a report on Friday. Finally, Sidoti dropped their price objective on Kadant from $107.00 to $91.00 and set a neutral rating on the stock in a report on Thursday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $97.22.

KAI stock traded up $4.42 on Friday, reaching $100.24. 137,241 shares of the company’s stock were exchanged, compared to its average volume of 73,008. The stock has a fifty day moving average of $108.64 and a 200-day moving average of $94.71. Kadant has a twelve month low of $77.67 and a twelve month high of $114.05. The firm has a market cap of $1.25 billion, a PE ratio of 18.56 and a beta of 1.32. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.77.

Kadant (NYSE:KAI) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.04. The company had revenue of $182.70 million for the quarter, compared to analyst estimates of $173.38 million. Kadant had a return on equity of 16.76% and a net margin of 9.00%. Kadant’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.66 earnings per share. On average, equities research analysts predict that Kadant will post 5.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Thursday, January 9th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Wednesday, January 8th.

In other Kadant news, CFO Michael J. Mckenney sold 4,188 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $100.65, for a total value of $421,522.20. Following the sale, the chief financial officer now owns 17,557 shares of the company’s stock, valued at $1,767,112.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jonathan W. Painter sold 5,208 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $111.41, for a total value of $580,223.28. Following the completion of the sale, the chairman now directly owns 31,756 shares in the company, valued at approximately $3,537,935.96. The disclosure for this sale can be found here. Insiders sold 57,391 shares of company stock worth $6,091,881 in the last three months. 5.50% of the stock is owned by corporate insiders.

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.

Further Reading: Price to Earnings Ratio (PE) Basics

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