What is DA Davidson’s Estimate for Kadant FY2024 Earnings?

Kadant Inc. (NYSE:KAI) – Equities research analysts at DA Davidson upped their FY2024 EPS estimates for shares of Kadant in a note issued to investors on Thursday, October 31st. DA Davidson analyst K. Yinger now forecasts that the industrial products company will earn $10.06 per share for the year, up from their previous estimate of $9.94. DA Davidson has a “Neutral” rating and a $300.00 price objective on the stock. The consensus estimate for Kadant’s current full-year earnings is $9.99 per share.

Kadant (NYSE:KAI) last released its earnings results on Tuesday, October 29th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.43 by $0.41. The business had revenue of $271.61 million for the quarter, compared to the consensus estimate of $266.38 million. Kadant had a return on equity of 15.41% and a net margin of 11.12%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.69 earnings per share.

Separately, Barrington Research reissued an “outperform” rating and issued a $360.00 price objective on shares of Kadant in a report on Wednesday, October 30th.

Kadant Price Performance

Shares of NYSE:KAI opened at $343.38 on Monday. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 35.15 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.40 and a current ratio of 2.25. The business has a 50-day simple moving average of $323.77 and a two-hundred day simple moving average of $305.97. Kadant has a fifty-two week low of $231.83 and a fifty-two week high of $363.40.

Kadant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Thursday, October 10th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, October 10th. Kadant’s dividend payout ratio (DPR) is presently 13.10%.

Insider Transactions at Kadant

In other news, Director Thomas C. Leonard sold 2,000 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $337.40, for a total value of $674,800.00. Following the sale, the director now owns 4,250 shares of the company’s stock, valued at approximately $1,433,950. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Institutional Trading of Kadant

A number of large investors have recently modified their holdings of the company. Sheets Smith Wealth Management raised its holdings in shares of Kadant by 22.7% in the 3rd quarter. Sheets Smith Wealth Management now owns 2,170 shares of the industrial products company’s stock valued at $733,000 after purchasing an additional 401 shares in the last quarter. Atria Investments Inc lifted its stake in shares of Kadant by 4.7% during the third quarter. Atria Investments Inc now owns 5,564 shares of the industrial products company’s stock worth $1,881,000 after buying an additional 252 shares during the period. Asset Management One Co. Ltd. acquired a new stake in Kadant during the 3rd quarter worth about $111,000. Cannon Global Investment Management LLC purchased a new stake in Kadant in the third quarter valued at approximately $237,000. Finally, US Bancorp DE boosted its holdings in shares of Kadant by 6.4% in the 3rd quarter. US Bancorp DE now owns 1,933 shares of the industrial products company’s stock valued at $653,000 after acquiring an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Kadant Company Profile

Kadant Inc supplies technologies and engineered systems worldwide. It operates in three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables consisting of doctor systems and holders, doctor blades, cleaning shower and fabric-conditioning systems, forming systems and wear surfaces, and water-filtration systems.