ITT Inc. (ITT) Set to Announce Earnings on Thursday
ITT Inc. (NYSE:ITT) is scheduled to release its earnings data before the market opens on Thursday, November 2nd. Analysts expect ITT to post earnings of $0.61 per share for the quarter. ITT has set its FY17 guidance at $2.40-2.50 EPS.
ITT (NYSE:ITT) last announced its earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The business had revenue of $630.90 million for the quarter, compared to analyst estimates of $628.65 million. ITT had a return on equity of 14.17% and a net margin of 8.64%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS. On average, analysts expect ITT to post $2.47 EPS for the current fiscal year and $2.88 EPS for the next fiscal year.
ITT Inc. (NYSE:ITT) opened at 46.88 on Thursday. The firm has a 50-day moving average price of $44.28 and a 200-day moving average price of $41.28. ITT Inc. has a 52 week low of $32.46 and a 52 week high of $47.98. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 20.08 and a beta of 1.48.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given a $0.128 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.51 annualized dividend and a dividend yield of 1.09%. ITT’s payout ratio is 21.70%.
In related news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $42.90, for a total value of $214,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by insiders.
ITT has been the topic of several research analyst reports. BidaskClub upgraded ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research upgraded ITT from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Tuesday, July 18th. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Stifel Nicolaus restated a “buy” rating and issued a $49.00 price objective on shares of ITT in a research report on Wednesday, August 16th. Finally, Deutsche Bank AG upgraded ITT from a “hold” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $55.00 in a research report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $48.50.
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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