Kadant (NYSE:KAI) Issues Quarterly Earnings Results

Kadant (NYSE:KAI) posted its quarterly earnings results on Tuesday. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.64, FiscalAI reports. The business had revenue of $313.16 million for the quarter, compared to analyst estimates 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 NYSE:KAI traded down $0.96 during trading on Tuesday, hitting $282.67. 210,554 shares of the company were exchanged, compared to its average volume of 153,199. Kadant has a fifty-two week low of $244.87 and a fifty-two week high of $354.07. 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 cap of $3.34 billion, a price-to-earnings ratio of 30.39 and a beta of 1.21. The firm has a fifty day moving average price of $274.89 and a two-hundred day moving average price of $306.56.

Kadant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Thursday, October 15th will be issued a $0.36 dividend. The ex-dividend date is Thursday, October 15th. This represents a $1.44 annualized dividend and a dividend yield of 0.5%. Kadant’s dividend payout ratio (DPR) is presently 15.48%.

Wall Street Analyst Weigh In

KAI has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Kadant from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Wall Street Zen raised Kadant from a “hold” rating to a “buy” rating in a research report on Saturday, September 12th. Finally, DA Davidson raised their price objective on Kadant from $306.00 to $335.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Kadant currently has an average rating of “Hold” and a consensus price target 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.