Illinois Tool Works Inc. (ITW) Issues Q4 Earnings Guidance
Illinois Tool Works Inc. (NYSE:ITW) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.85-0.93 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.89, Analyst Ratings Network reports. The company issued revenue guidance of +2-5% YoY to, compared to the consensus revenue estimate of $3.55 billion.
Illinois Tool Works Inc. (NYSE:ITW) opened at 77.56 on Tuesday. Illinois Tool Works Inc. has a 52 week low of $58.39 and a 52 week high of $78.56. The stock’s 50-day moving average is $75.46 and its 200-day moving average is $70.88. The company has a market cap of $34.738 billion and a P/E ratio of 15.36.
Illinois Tool Works (NYSE:ITW) last released its earnings data on Tuesday, October 22nd. The company reported $0.99 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.94 by $0.05. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter last year, the company posted $1.09 earnings per share. Illinois Tool Works’s revenue was down 20.7% compared to the same quarter last year. On average, analysts predict that Illinois Tool Works Inc. will post $3.84 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on ITW shares. Analysts at BMO Capital Markets raised their price target on shares of Illinois Tool Works from $77.00 to $81.00 in a research note to investors on Wednesday, October 16th. They now have a market perform rating on the stock. On a related note, analysts at Citigroup Inc. reiterated a neutral rating on shares of Illinois Tool Works in a research note to investors on Wednesday, September 25th. They now have a $80.00 price target on the stock, up previously from $75.00. Finally, analysts at Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $78.00 to $83.00 in a research note to investors on Wednesday, September 25th. They now have a buy rating on the stock. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Illinois Tool Works has an average rating of Hold and a consensus target price of $74.46.
Illinois Tool Works Inc (NYSE:ITW), is a multinational manufacturer of a diversified range of industrial products and equipment with operations in 58 countries.
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