Cadre (NYSE:CDRE) Releases Earnings Results, Beats Expectations By $0.09 EPS

Key Points

• Cadre beat quarterly expectations, reporting EPS of $0.37 versus $0.28 expected and revenue of $202.88 million versus a $190.67 million consensus.
• The company announced a quarterly dividend of $0.10 per share, equivalent to an annualized yield of about 1.3%.
• Analysts maintain a Moderate Buy consensus with an average price target of $43.33; shares traded at $30.93 after edging lower on Wednesday.

Cadre (NYSE:CDRE - Get Free Report) posted its earnings results on Wednesday. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.09, FiscalAI reports. Cadre had a return on equity of 12.02% and a net margin of 5.26%. The company had revenue of $202.88 million during the quarter, compared to the consensus estimate of $190.67 million.

Cadre Price Performance

Shares of NYSE:CDRE traded down $0.13 during midday trading on Wednesday, hitting $30.93. The stock had a trading volume of 334,535 shares, compared to its average volume of 525,047. The company's 50-day moving average price is $27.86 and its 200-day moving average price is $32.19. The company has a market capitalization of $1.32 billion, a P/E ratio of 36.39, a price-to-earnings-growth ratio of 1.04 and a beta of 1.29. The company has a quick ratio of 1.35, a current ratio of 2.14 and a debt-to-equity ratio of 1.02. Cadre has a fifty-two week low of $24.07 and a fifty-two week high of $48.76.

Cadre Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a $0.10 dividend. The ex-dividend date is Friday, October 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. Cadre's payout ratio is presently 47.06%.

Analyst Ratings Changes

CDRE has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Cadre from $45.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 13th. Roth Capital reiterated a "buy" rating and issued a $43.00 price target (up from $40.00) on shares of Cadre in a research report on Monday, August 10th. UBS Group set a $43.00 price target on Cadre in a research note on Monday, August 10th. Wall Street Zen upgraded Cadre from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Cadre in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Cadre currently has a consensus rating of "Moderate Buy" and an average price target of $43.33.

Insider Buying and Selling at Cadre

In related news, CEO Warren Kanders sold 100,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $33.36, for a total transaction of $3,336,000.00. Following the sale, the chief executive officer owned 9,517,039 shares in the company, valued at approximately $317,488,421.04. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 30.10% of the company's stock.

Cadre Company Profile

Cadre Holdings, Inc is a manufacturer and supplier of equipment used by law enforcement, military personnel, first responders and other public-safety professionals. The company develops products designed to protect personnel, support mission readiness and improve operational performance in demanding environments.

Cadre's product portfolio includes body armor, tactical equipment, duty gear, holsters, helmets, protective apparel, restraints and related accessories. Its brands also provide equipment for explosive-ordnance disposal, emergency rescue and water-safety applications.

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