ITT Inc. (ITT) Expected to Announce Earnings of $0.63 Per Share
Analysts expect that ITT Inc. (NYSE:ITT) will report earnings of $0.63 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for ITT’s earnings, with the highest EPS estimate coming in at $0.65 and the lowest estimate coming in at $0.62. ITT posted earnings of $0.67 per share in the same quarter last year, which indicates a negative year over year growth rate of 6%. The firm is expected to announce its next earnings report on Thursday, August 3rd.
On average, analysts expect that ITT will report full year earnings of $2.42 per share for the current financial year, with EPS estimates ranging from $2.38 to $2.50. For the next year, analysts expect that the company will post earnings of $2.81 per share, with EPS estimates ranging from $2.60 to $2.92. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow ITT.
ITT (NYSE:ITT) last announced its quarterly earnings results on Monday, May 8th. The conglomerate reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04. ITT had a net margin of 8.04% and a return on equity of 14.65%. The company had revenue of $625.80 million for the quarter, compared to analyst estimates of $607.08 million. During the same quarter in the prior year, the business posted $0.59 EPS. ITT’s quarterly revenue was up 2.7% on a year-over-year basis.
ITT has been the topic of a number of research reports. TheStreet raised shares of ITT from a “c+” rating to a “b” rating in a research note on Monday, March 27th. Stifel Nicolaus lifted their price target on shares of ITT from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. Goldman Sachs Group, Inc. (The) lowered shares of ITT from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $46.00 to $43.00 in a research report on Tuesday, June 6th. Finally, BidaskClub raised shares of ITT from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $46.67.
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Shares of ITT (NYSE:ITT) traded up 2.801% on Wednesday, hitting $39.825. 272,648 shares of the stock traded hands. The firm has a market capitalization of $3.53 billion, a PE ratio of 18.353 and a beta of 1.35. ITT has a 52 week low of $30.06 and a 52 week high of $44.00. The firm’s 50 day moving average is $39.86 and its 200 day moving average is $40.60.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 12th will be given a $0.128 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, June 8th. ITT’s dividend payout ratio is presently 23.50%.
Several hedge funds have recently made changes to their positions in ITT. Ladenburg Thalmann Financial Services Inc. increased its position in shares of ITT by 3.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,378 shares of the conglomerate’s stock worth $131,000 after buying an additional 120 shares during the last quarter. Tyers Asset Management LLC purchased a new position in shares of ITT during the fourth quarter worth $135,000. Elkfork Partners LLC purchased a new position in shares of ITT during the fourth quarter worth $185,000. Timber Hill LLC purchased a new position in shares of ITT during the first quarter worth $201,000. Finally, Coastline Trust Co purchased a new position in shares of ITT during the first quarter worth $205,000. 92.58% of the stock is currently owned by institutional investors and hedge funds.
ITT Company Profile
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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