$0.76 EPS Expected for Applied Industrial Technologies, Inc. (NYSE:AIT) This Quarter
Analysts expect that Applied Industrial Technologies, Inc. (NYSE:AIT) will announce earnings per share of $0.76 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Applied Industrial Technologies’ earnings, with the highest EPS estimate coming in at $0.77 and the lowest estimate coming in at $0.75. Applied Industrial Technologies posted earnings per share of $0.66 during the same quarter last year, which would suggest a positive year over year growth rate of 15.2%. The firm is scheduled to report its next quarterly earnings report on Friday, August 11th.
On average, analysts expect that Applied Industrial Technologies will report full year earnings of $2.82 per share for the current financial year, with EPS estimates ranging from $2.80 to $2.83. For the next fiscal year, analysts expect that the company will report earnings of $3.01 per share, with EPS estimates ranging from $3.00 to $3.01. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Applied Industrial Technologies.
Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, April 27th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.12. Applied Industrial Technologies had a return on equity of 15.70% and a net margin of 4.20%. The business had revenue of $679.30 million for the quarter, compared to analysts’ expectations of $637.30 million. During the same period last year, the firm earned $0.61 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year.
AIT has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Applied Industrial Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 27th. Wells Fargo & Company reiterated a “market perform” rating and issued a $63.00 price objective (down previously from $67.00) on shares of Applied Industrial Technologies in a report on Wednesday, July 12th. Finally, BidaskClub lowered shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Monday.
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Shares of Applied Industrial Technologies (AIT) opened at 57.25 on Tuesday. The firm has a market capitalization of $2.23 billion, a PE ratio of 21.02 and a beta of 0.96. Applied Industrial Technologies has a 1-year low of $43.50 and a 1-year high of $69.00. The firm has a 50-day moving average price of $59.34 and a 200-day moving average price of $61.18.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.04%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 42.65%.
Large investors have recently modified their holdings of the stock. First Midwest Bank Trust Division raised its stake in shares of Applied Industrial Technologies by 2.5% in the second quarter. First Midwest Bank Trust Division now owns 9,697 shares of the industrial products company’s stock worth $572,000 after buying an additional 237 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in Applied Industrial Technologies during the second quarter valued at $225,000. Aperio Group LLC raised its stake in Applied Industrial Technologies by 11.9% in the second quarter. Aperio Group LLC now owns 11,885 shares of the industrial products company’s stock valued at $702,000 after buying an additional 1,266 shares during the period. State of Alaska Department of Revenue raised its stake in Applied Industrial Technologies by 78.3% in the second quarter. State of Alaska Department of Revenue now owns 7,702 shares of the industrial products company’s stock valued at $454,000 after buying an additional 3,382 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its stake in Applied Industrial Technologies by 1.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 26,310 shares of the industrial products company’s stock valued at $1,554,000 after buying an additional 465 shares during the period. Institutional investors and hedge funds own 88.17% of the company’s stock.
Applied Industrial Technologies Company Profile
Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.
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