Cadre Holdings, Inc. to Post Q2 2024 Earnings of $0.23 Per Share, B. Riley Forecasts (NYSE:CDRE)

Cadre Holdings, Inc. (NYSE:CDRE) – Analysts at B. Riley decreased their Q2 2024 earnings per share estimates for Cadre in a research report issued on Friday, April 12th. B. Riley analyst J. Van. Sinderen now forecasts that the company will post earnings per share of $0.23 for the quarter, down from their prior forecast of $0.30. B. Riley currently has a “Buy” rating and a $48.00 target price on the stock. The consensus estimate for Cadre’s current full-year earnings is $1.18 per share. B. Riley also issued estimates for Cadre’s Q3 2024 earnings at $0.27 EPS.

Cadre (NYSE:CDRE) last posted its earnings results on Tuesday, March 5th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.11. Cadre had a return on equity of 21.85% and a net margin of 8.01%. The company had revenue of $124.58 million for the quarter, compared to analyst estimates of $122.30 million.

A number of other analysts also recently commented on CDRE. Stifel Nicolaus increased their price target on Cadre from $33.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Raymond James downgraded Cadre from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Roth Mkm reaffirmed a “buy” rating and set a $43.00 price target (up from $38.00) on shares of Cadre in a research report on Wednesday, March 6th. Finally, Stephens increased their price target on Cadre from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Cadre Stock Performance

Shares of CDRE opened at $33.58 on Monday. The company has a current ratio of 2.58, a quick ratio of 1.73 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 1.77 and a beta of 1.32. The stock has a 50 day moving average of $35.74 and a 200 day moving average of $32.66. Cadre has a 12 month low of $19.13 and a 12 month high of $39.81.

Hedge Funds Weigh In On Cadre

Hedge funds have recently made changes to their positions in the stock. Legato Capital Management LLC purchased a new position in shares of Cadre in the fourth quarter valued at $245,000. FMR LLC grew its position in shares of Cadre by 12.4% in the third quarter. FMR LLC now owns 5,637,904 shares of the company’s stock valued at $150,250,000 after purchasing an additional 621,116 shares in the last quarter. Oak Ridge Investments LLC purchased a new position in shares of Cadre in the fourth quarter valued at $1,930,000. SG Americas Securities LLC purchased a new position in shares of Cadre in the fourth quarter valued at $229,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cadre by 56.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,944 shares of the company’s stock valued at $105,000 after buying an additional 1,424 shares during the period. 43.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cadre news, CEO Warren B. Kanders sold 1,438,127 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $35.00, for a total value of $50,334,445.00. Following the completion of the sale, the chief executive officer now directly owns 12,184,918 shares of the company’s stock, valued at $426,472,130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 49.20% of the company’s stock.

Cadre Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 2nd were given a $0.0875 dividend. This is an increase from Cadre’s previous quarterly dividend of $0.08. This represents a $0.35 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, February 1st. Cadre’s dividend payout ratio (DPR) is currently 34.31%.

About Cadre

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.