Kadant (NYSE:KAI) Posts Earnings Results, Beats Estimates By $0.64 EPS

Key Points

• Kadant reported quarterly EPS of $3.64, beating the $3.00 consensus by $0.64; revenue was $313.16 million, above the $302.03 million estimate.
• Shares slipped 0.3% to $282.67 during Tuesday trading despite the earnings beat.
• Kadant declared a quarterly dividend of $0.36 per share, equivalent to a 0.5% annual yield; analysts’ consensus rating is Hold, with a $357.50 target price.

Kadant (NYSE:KAI - Get Free Report) posted its quarterly earnings results on Tuesday. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.00 by $0.64, FiscalAI reports. The business had revenue of $313.16 million for the quarter, compared to the consensus estimate of $302.03 million. Kadant had a return on equity of 13.16% and a net margin of 9.52%.

Kadant Stock Down 0.3%

Shares of KAI traded down $0.96 during midday trading on Tuesday, hitting $282.67. 210,554 shares of the company's stock traded hands, compared to its average volume of 153,199. Kadant has a 1 year low of $244.87 and a 1 year high of $354.07. The firm's fifty day moving average is $274.89 and its 200-day moving average is $306.56. The company has a current ratio of 2.59, a quick ratio of 1.63 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 30.39 and a beta of 1.21.

Kadant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.5%. Kadant's dividend payout ratio is presently 15.48%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KAI. DA Davidson upped their price objective on shares of Kadant from $306.00 to $335.00 and gave the stock a "neutral" rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Kadant from a "hold" rating to a "buy" rating in a research report on Saturday, September 12th. Finally, Weiss Ratings downgraded shares of Kadant from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Kadant presently has a consensus rating of "Hold" and a consensus target price of $357.50.

Kadant Company Profile

Kadant Inc NYSE: KAI is a global supplier of technologies and equipment used in the pulp and paper, recycling, and industrial processing industries. The company designs and manufactures products that help customers process fiber, manage fluids, improve production efficiency, and handle industrial materials.

Its offerings include systems and equipment for stock preparation, paper-machine cleaning, doctoring, filtration, water management, and fluid-handling applications. Kadant also provides material-handling and conveying equipment, as well as products used in recycling and other industrial processes.

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