B. Riley Has Strong Forecast for Cadre FY2024 Earnings

Cadre Holdings, Inc. (NYSE:CDRE - Free Report) - Research analysts at B. Riley upped their FY2024 earnings estimates for shares of Cadre in a research report issued on Thursday, November 7th. B. Riley analyst J. Van. Sinderen now anticipates that the company will post earnings of $0.94 per share for the year, up from their prior estimate of $0.92. The consensus estimate for Cadre's current full-year earnings is $1.04 per share. B. Riley also issued estimates for Cadre's Q4 2024 earnings at $0.36 EPS, FY2025 earnings at $1.24 EPS and FY2026 earnings at $1.55 EPS.

Cadre (NYSE:CDRE - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Cadre had a return on equity of 17.45% and a net margin of 7.55%. The company had revenue of $109.41 million for the quarter, compared to the consensus estimate of $126.27 million. During the same quarter in the prior year, the company posted $0.29 EPS. Cadre's quarterly revenue was down 12.6% on a year-over-year basis.

Separately, Roth Mkm reduced their price objective on shares of Cadre from $39.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Cadre has an average rating of "Moderate Buy" and a consensus price target of $39.75.

Cadre Price Performance

NYSE:CDRE traded up $0.93 during trading hours on Friday, reaching $34.93. 234,621 shares of the company traded hands, compared to its average volume of 229,434. The firm's 50-day moving average is $36.92 and its 200-day moving average is $34.92. The stock has a market cap of $1.42 billion, a P/E ratio of 33.00, a P/E/G ratio of 2.08 and a beta of 1.30. Cadre has a 1-year low of $28.46 and a 1-year high of $40.28. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.17 and a quick ratio of 2.14.

Cadre Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, November 1st. Cadre's payout ratio is currently 33.98%.

Institutional Trading of Cadre

A number of large investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Cadre by 454.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,624 shares of the company's stock worth $55,000 after acquiring an additional 1,331 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Cadre in the 2nd quarter worth approximately $141,000. Truist Financial Corp bought a new position in Cadre in the 2nd quarter worth approximately $209,000. Oppenheimer Asset Management Inc. bought a new position in Cadre in the 2nd quarter worth about $216,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Cadre in the 1st quarter valued at about $225,000. 43.95% of the stock is currently owned by institutional investors.

Cadre Company Profile

Cadre Holdings, Inc manufactures and distributes safety that provides protection to users in hazardous or life-threatening situations in the United States and internationally. The company operates in two segments, Products and Distribution. It offers body armor product, such as concealable, corrections, and tactical armor under the Safariland and Protech Tactical brand names; survival suits, remotely operated vehicles, specialty tools, blast sensors, accessories, and vehicle blast attenuation seats for bomb safety technicians; bomb suits; duty gear, including belts and accessories; and other protective equipment comprising communications gear, forensic and investigation products, firearms cleaning solutions, and crowd control products.