Brokers Offer Predictions for Actuant Corp.’s FY2019 Earnings (ATU)
Actuant Corp. (NYSE:ATU) – Stock analysts at Gabelli reduced their FY2019 EPS estimates for shares of Actuant Corp. in a research report issued on Monday. Gabelli analyst J. Bergner now expects that the firm will post earnings of $1.50 per share for the year, down from their previous estimate of $1.55. Gabelli also issued estimates for Actuant Corp.’s FY2020 earnings at $1.70 EPS.
A number of other brokerages have also recently weighed in on ATU. Barclays PLC reiterated an “equal weight” rating and issued a $20.00 price objective on shares of Actuant Corp. in a research note on Tuesday, July 12th. JPMorgan Chase & Co. cut Actuant Corp. from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $25.00 to $20.00 in a research note on Wednesday, June 22nd. Wells Fargo & Co. reiterated an “outperform” rating on shares of Actuant Corp. in a research note on Friday, June 24th. TheStreet cut Actuant Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $22.00 price objective on shares of Actuant Corp. in a research note on Saturday, October 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. Actuant Corp. currently has an average rating of “Hold” and an average price target of $23.67.
Shares of Actuant Corp. (NYSE:ATU) traded down 3.69% on Tuesday, hitting $21.68. The stock had a trading volume of 785,983 shares. The stock’s market cap is $1.28 billion. Actuant Corp. has a 12 month low of $20.49 and a 12 month high of $27.71. The firm has a 50 day moving average of $23.05 and a 200 day moving average of $24.48.
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Actuant Corp. (NYSE:ATU) last announced its earnings results on Wednesday, September 28th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. Actuant Corp. had a positive return on equity of 13.22% and a negative net margin of 9.15%. The firm had revenue of $275.77 million for the quarter. During the same quarter last year, the business earned $0.37 EPS. The company’s quarterly revenue was down 8.0% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Wednesday, September 28th. Actuant Corp.’s dividend payout ratio is presently -2.23%.
A number of hedge funds and other institutional investors have recently made changes to their positions in ATU. Contravisory Investment Management Inc. acquired a new position in shares of Actuant Corp. during the second quarter worth $122,000. BNP Paribas Arbitrage SA increased its stake in Actuant Corp. by 92.1% in the second quarter. BNP Paribas Arbitrage SA now owns 20,051 shares of the company’s stock worth $453,000 after buying an additional 9,613 shares during the last quarter. Boothbay Fund Management LLC increased its stake in Actuant Corp. by 53.5% in the first quarter. Boothbay Fund Management LLC now owns 21,612 shares of the company’s stock worth $534,000 after buying an additional 7,530 shares during the last quarter. First Republic Investment Management Inc. purchased a new stake in Actuant Corp. during the first quarter worth approximately $546,000. Finally, Invictus RG increased its stake in Actuant Corp. by 45.1% in the first quarter. Invictus RG now owns 18,844 shares of the company’s stock worth $466,000 after buying an additional 5,855 shares during the last quarter.
Actuant Corp. Company Profile
Actuant Corporation designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company operates through three segments: Industrial, Energy and Engineered Solutions. The Company’s Industrial segment is primarily involved in the design, manufacture and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure and production automation markets.
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