Kadant (NYSE:KAI) Updates FY 2020 After-Hours Earnings Guidance

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Kadant (NYSE:KAI) updated its FY 2020
After-Hours earnings guidance on Wednesday. The company provided earnings per share guidance of 5.00-5.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.97. The company issued revenue guidance of $690-700 million, compared to the consensus revenue estimate of $716.32 million.Kadant also updated its FY20 guidance to $5.00-5.10 EPS.

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

Shares of Kadant stock traded up $4.42 during trading on Friday, hitting $100.24. The stock had a trading volume of 137,241 shares, compared to its average volume of 73,008. The stock has a 50 day simple moving average of $108.64 and a 200 day simple moving average of $94.71. The company has a market capitalization 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 has a 1 year low of $77.67 and a 1 year high of $114.05.

Kadant (NYSE:KAI) last released its earnings results on Wednesday, February 12th. The industrial products company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. The business had revenue of $182.70 million for the quarter, compared to the consensus estimate of $173.38 million. Kadant had a net margin of 9.00% and a return on equity of 16.76%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $1.66 earnings per share. As a group, equities analysts expect that Kadant will post 5.35 earnings per share for the current fiscal year.

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

In related news, Chairman Jonathan W. Painter sold 3,804 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $94.54, for a total transaction of $359,630.16. Following the completion of the sale, the chairman now directly owns 96,311 shares in the company, valued at $9,105,241.94. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas C. Leonard sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $105.12, for a total transaction of $315,360.00. Following the sale, the director now owns 12,924 shares of the company’s stock, valued at $1,358,570.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,391 shares of company stock valued at $6,091,881. 5.50% of the stock is currently 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.

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