Kadant Inc (NYSE:KAI) Issues Q3 Earnings Guidance

Kadant Inc (NYSE:KAI) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.12 to $1.16 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.98. The company issued revenue guidance of $139 million to $142 million, compared to the consensus revenue estimate of $128.37 million.Kadant also updated its FY17 guidance to $3.99 to $4.07 EPS.

Shares of Kadant Inc (NYSE:KAI) traded up 0.83% during mid-day trading on Friday, reaching $85.10. The company’s stock had a trading volume of 74,961 shares. Kadant Inc has a 12 month low of $49.19 and a 12 month high of $89.90. The company has a 50-day moving average of $80.31 and a 200-day moving average of $69.49. The firm has a market cap of $936.44 million, a PE ratio of 28.10 and a beta of 1.36.

Kadant (NYSE:KAI) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.13. The business had revenue of $110.24 million during the quarter, compared to analyst estimates of $113.49 million. Kadant had a return on equity of 12.68% and a net margin of 8.10%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 EPS. On average, analysts predict that Kadant Inc will post $4.03 earnings per share for the current year.

Kadant declared that its board has initiated a share buyback program on Wednesday, May 17th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Kadant from a hold rating to a strong-buy rating and set a $98.00 price target on the stock in a research note on Saturday, August 5th. BidaskClub downgraded Kadant from a buy rating to a hold rating in a research note on Monday, July 24th. Sidoti restated a buy rating and issued a $95.00 price target (up from $85.00) on shares of Kadant in a research note on Saturday, June 3rd. Barrington Research raised their price target on Kadant from $80.00 to $86.00 and gave the stock an outperform rating in a research note on Wednesday, May 31st. Finally, William Blair upgraded Kadant from a market perform rating to an outperform rating in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $82.00.

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Kadant Company Profile

Kadant Inc is a supplier of equipment and components used in process industries. In addition, the Company manufactures granules made from papermaking by-products. Its segments include Papermaking Systems and Wood Processing Systems. The Company has a customer base, which includes paper and oriented strand board (OSB) manufacturers.

Earnings History and Estimates for Kadant (NYSE:KAI)

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