Kadant (NYSE:KAI) Receives Daily Coverage Optimism Score of 0.02
Media headlines about Kadant (NYSE:KAI) have been trending somewhat positive recently, Accern Sentiment reports. Accern rates the sentiment of media coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Kadant earned a news impact score of 0.02 on Accern’s scale. Accern also gave news coverage about the industrial products company an impact score of 46.3284272291292 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Shares of Kadant (KAI) opened at 77.30 on Wednesday. The firm has a market capitalization of $850.30 million, a price-to-earnings ratio of 25.27 and a beta of 1.35. Kadant has a one year low of $49.20 and a one year high of $81.55. The stock’s 50 day moving average price is $76.95 and its 200 day moving average price is $66.20.
Kadant (NYSE:KAI) last announced its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.16. Kadant had a return on equity of 12.35% and a net margin of 8.12%. The company had revenue of $102.86 million during the quarter, compared to the consensus estimate of $99.30 million. Analysts expect that Kadant will post $3.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Thursday, July 13th will be issued a $0.21 dividend. The ex-dividend date is Tuesday, July 11th. This represents a $0.84 annualized dividend and a dividend yield of 1.09%. Kadant’s dividend payout ratio (DPR) is currently 27.45%.
Kadant declared that its board has authorized a stock repurchase program on Wednesday, May 17th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of brokerages have commented on KAI. Sidoti restated a “buy” rating and set a $95.00 price objective (up from $85.00) on shares of Kadant in a research report on Saturday, June 3rd. Zacks Investment Research lowered Kadant from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Barrington Research raised their price objective on Kadant from $80.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 31st. Finally, William Blair upgraded Kadant from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $73.60.
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.
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