FY2017 EPS Estimates for ITT Inc. (ITT) Boosted by Oppenheimer Holdings
ITT Inc. (NYSE:ITT) – Stock analysts at Oppenheimer Holdings raised their FY2017 EPS estimates for shares of ITT in a report released on Sunday. Oppenheimer Holdings analyst J. Giannakouros now anticipates that the conglomerate will earn $2.45 per share for the year, up from their prior forecast of $2.40. Oppenheimer Holdings also issued estimates for ITT’s Q4 2017 earnings at $0.55 EPS, FY2018 earnings at $2.90 EPS and FY2019 earnings at $3.30 EPS.
Several other equities analysts have also recently weighed in on ITT. Stifel Nicolaus lifted their price objective on ITT from $49.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. Goldman Sachs Group, Inc. (The) cut ITT from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $46.00 to $43.00 in a report on Tuesday, June 6th. BidaskClub raised ITT from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. ValuEngine raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research raised ITT from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $46.57.
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ITT (NYSE:ITT) opened at 41.41 on Tuesday. ITT has a 1-year low of $32.45 and a 1-year high of $44.00. The firm’s 50-day moving average price is $40.52 and its 200 day moving average price is $40.59. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 19.08 and a beta of 1.47.
ITT (NYSE:ITT) last released its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. ITT had a return on equity of 14.17% and a net margin of 8.64%. The firm had revenue of $630.90 million during the quarter, compared to analyst estimates of $628.65 million. During the same period in the prior year, the company posted $0.67 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year.
Several institutional investors have recently bought and sold shares of ITT. BlackRock Inc. boosted its position in ITT by 10,370.9% in the first quarter. BlackRock Inc. now owns 7,282,231 shares of the conglomerate’s stock worth $298,717,000 after buying an additional 7,212,684 shares during the period. Wedge Capital Management L L P NC acquired a new position in ITT during the second quarter worth approximately $27,785,000. Vanguard Group Inc. boosted its position in ITT by 6.1% in the first quarter. Vanguard Group Inc. now owns 7,940,146 shares of the conglomerate’s stock worth $325,705,000 after buying an additional 454,454 shares during the period. Wellington Management Group LLP acquired a new position in ITT during the first quarter worth approximately $17,805,000. Finally, Deprince Race & Zollo Inc. boosted its position in ITT by 53.2% in the first quarter. Deprince Race & Zollo Inc. now owns 1,194,346 shares of the conglomerate’s stock worth $48,992,000 after buying an additional 414,858 shares during the period. 93.21% of the stock is owned by institutional investors.
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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