Kadant Announces Quarterly Dividend of $0.13 (KAI)
Kadant (NYSE:KAI) announced a quarterly dividend on Tuesday, February 26th. Stockholders of record on Thursday, April 11th will be paid a dividend of $0.13 per share on Thursday, May 9th. This represents a $0.50 annualized dividend and a dividend yield of 1.87%.
On the ratings front, analysts at Zacks downgraded shares of Kadant from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, January 1st. They now have a $29.00 price target on the stock.
Kadant (KAI) traded up 0.78% on Tuesday, hitting $26.99. Kadant (KAI) has a 52-week low of $20.50 and a 52-week high of $28.74. The stock’s 50-day moving average is currently $26.71. The company has a market cap of $305.5 million and a price-to-earnings ratio of 9.24.
Kadant last posted its quarterly earnings results on Tuesday, February 26th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.40 by $0.04. The company had revenue of $78.10 million for the quarter, compared to the consensus estimate of $77.00 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. Kadant has set its Q1 guidance at $0.32-0.34 EPS and its FY13 guidance at $1.80-1.90 EPS. Analysts expect that Kadant (KAI) will post $2.24 EPS for the current fiscal year.
Kadant Inc. is a supplier of equipment used in the global papermaking and paper recycling industries.
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