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

Kadant Inc. (NYSE:KAI) – Stock analysts at DA Davidson upped their FY2024 EPS estimates for Kadant in a research report issued to clients and investors on Thursday, October 31st. DA Davidson analyst K. Yinger now anticipates that the industrial products company will earn $10.06 per share for the year, up from their previous forecast of $9.94. DA Davidson has a “Neutral” rating and a $300.00 price target on the stock. The consensus estimate for Kadant’s current full-year earnings is $10.11 per share.

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

Kadant Price Performance

Kadant stock opened at $359.74 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.40 and a current ratio of 2.25. Kadant has a one year low of $242.07 and a one year high of $363.40. The company has a market cap of $4.22 billion, a P/E ratio of 36.82 and a beta of 1.21. The business has a fifty day moving average of $324.35 and a two-hundred day moving average of $306.58.

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

Kadant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 10th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.28 dividend on an annualized basis and a yield of 0.36%. Kadant’s payout ratio is 13.10%.

Insider Buying and Selling at Kadant

In other news, Director Thomas C. Leonard sold 2,000 shares of Kadant stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $337.40, for a total transaction of $674,800.00. Following the completion of the transaction, the director now owns 4,250 shares of the company’s stock, valued at $1,433,950. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KAI. Janney Montgomery Scott LLC purchased a new stake in Kadant in the 1st quarter valued at approximately $209,000. Fidelis Capital Partners LLC purchased a new stake in shares of Kadant in the first quarter valued at $141,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Kadant by 7.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 855 shares of the industrial products company’s stock valued at $280,000 after acquiring an additional 57 shares during the last quarter. SG Americas Securities LLC increased its position in Kadant by 624.3% during the 1st quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock worth $1,397,000 after purchasing an additional 3,671 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Kadant in the 1st quarter valued at about $670,000. 96.13% of the stock is owned by hedge funds and other institutional investors.

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.