$0.63 EPS Expected for ITT Inc. (ITT) This Quarter
Equities research analysts forecast that ITT Inc. (NYSE:ITT) will report $0.63 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for ITT’s earnings, with the lowest EPS estimate coming in at $0.62 and the highest estimate coming in at $0.65. ITT reported earnings per share of $0.67 in the same quarter last year, which suggests a negative year over year growth rate of 6%. The company is scheduled to report its next quarterly earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that ITT will report full year earnings of $2.44 per share for the current year, with EPS estimates ranging from $2.40 to $2.50. For the next year, analysts anticipate that the business will post earnings of $2.82 per share, with EPS estimates ranging from $2.60 to $2.94. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for ITT.
ITT (NYSE:ITT) last released its earnings results on Monday, May 8th. The conglomerate reported $0.64 earnings per share (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 business had revenue of $625.80 million for the quarter, compared to analysts’ expectations of $607.08 million. During the same period last year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis.
A number of brokerages have recently weighed in on ITT. BidaskClub upgraded ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. TheStreet upgraded ITT from a “c+” rating to a “b” rating in a report on Monday, March 27th. Stifel Nicolaus upped their target price on ITT from $49.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research upgraded ITT from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $46.57.
ITT (NYSE:ITT) traded up 0.17% during midday trading on Monday, hitting $41.70. 313,147 shares of the company traded hands. The stock has a 50 day moving average price of $40.04 and a 200-day moving average price of $40.57. The company has a market cap of $3.70 billion, a PE ratio of 19.22 and a beta of 1.47. ITT has a 12-month low of $31.08 and a 12-month high of $44.00.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Monday, June 12th were issued a $0.128 dividend. The ex-dividend date of this dividend was Thursday, June 8th. This represents a $0.51 dividend on an annualized basis and a yield of 1.23%. ITT’s dividend payout ratio is currently 23.50%.
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A number of institutional investors have recently added to or reduced their stakes in the company. World Asset Management Inc increased its position in ITT by 0.3% in the first quarter. World Asset Management Inc now owns 5,487 shares of the conglomerate’s stock worth $225,000 after buying an additional 19 shares in the last quarter. United Capital Financial Advisers LLC increased its position in ITT by 0.6% in the first quarter. United Capital Financial Advisers LLC now owns 6,600 shares of the conglomerate’s stock worth $271,000 after buying an additional 42 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in 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 in the last quarter. Baker Ellis Asset Management LLC increased its position in ITT by 0.5% in the first quarter. Baker Ellis Asset Management LLC now owns 25,349 shares of the conglomerate’s stock worth $1,040,000 after buying an additional 125 shares in the last quarter. Finally, Albert D Mason Inc. increased its position in ITT by 0.7% in the first quarter. Albert D Mason Inc. now owns 30,329 shares of the conglomerate’s stock worth $1,244,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.
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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