Cadre Holdings, Inc. (NYSE:CDRE) Expected to Earn Q3 2023 Earnings of $0.22 Per Share

Posted by Defense World Staff on Aug 12th, 2023

Cadre Holdings, Inc. (NYSE:CDRE – Free Report) – Research analysts at B. Riley reduced their Q3 2023 earnings estimates for shares of Cadre in a research note issued to investors on Wednesday, August 9th. B. Riley analyst J. Van. Sinderen now expects that the company will post earnings per share of $0.22 for the quarter, down from their prior forecast of $0.25. The consensus estimate for Cadre’s current full-year earnings is $0.90 per share. B. Riley also issued estimates for Cadre’s Q4 2023 earnings at $0.30 EPS, FY2023 earnings at $0.99 EPS and FY2024 earnings at $1.25 EPS.

A number of other brokerages have also issued reports on CDRE. Roth Mkm upped their price objective on shares of Cadre from $28.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday. Stephens increased their target price on shares of Cadre from $29.00 to $31.00 in a research note on Thursday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.63.

Read Our Latest Stock Analysis on Cadre

Cadre Stock Performance

NYSE:CDRE opened at $25.30 on Friday. The company has a fifty day moving average of $22.11 and a two-hundred day moving average of $21.78. The stock has a market capitalization of $951.03 million, a PE ratio of 32.44 and a beta of 1.50. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.71. Cadre has a fifty-two week low of $16.58 and a fifty-two week high of $31.50.

Cadre (NYSE:CDRE – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.17 by $0.12. Cadre had a net margin of 6.31% and a return on equity of 18.59%. The business had revenue of $121.09 million during the quarter, compared to analyst estimates of $113.92 million. During the same quarter in the previous year, the business posted $0.15 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year.

Cadre Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Friday, August 4th will be issued a $0.08 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.32 annualized dividend and a yield of 1.26%. Cadre’s dividend payout ratio (DPR) is 41.03%.

Institutional Trading of Cadre

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in shares of Cadre by 89.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,507 shares of the company’s stock worth $33,000 after acquiring an additional 713 shares during the last quarter. Point72 Middle East FZE purchased a new position in Cadre in the 4th quarter valued at $37,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Cadre in the 4th quarter valued at $51,000. Tower Research Capital LLC TRC grew its position in Cadre by 75.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,322 shares of the company’s stock valued at $56,000 after buying an additional 1,001 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new position in Cadre in the 1st quarter valued at $60,000. Institutional investors and hedge funds own 39.49% of the company’s stock.

Cadre Company Profile

(Get Free Report)

Cadre Holdings, Inc manufactures and distributes safety and survivability equipment 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 and law enforcement equipment comprising communications gear, forensic and investigation products, firearms cleaning solutions, and crowd control products.