Zacks: Brokerages Expect Actuant Corporation (ATU) Will Announce Quarterly Sales of $267.86 Million
Wall Street brokerages expect Actuant Corporation (NYSE:ATU) to announce $267.86 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Actuant Corporation’s earnings. The lowest sales estimate is $264.30 million and the highest is $271.18 million. Actuant Corporation posted sales of $265.79 million in the same quarter last year, which suggests a positive year over year growth rate of 0.8%. The company is scheduled to report its next quarterly earnings report on Wednesday, December 20th.
According to Zacks, analysts expect that Actuant Corporation will report full-year sales of $267.86 million for the current fiscal year, with estimates ranging from $1.10 billion to $1.13 billion. For the next year, analysts forecast that the firm will report sales of $1.16 billion per share, with estimates ranging from $1.14 billion to $1.18 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Actuant Corporation.
Actuant Corporation (NYSE:ATU) last announced its quarterly earnings results on Wednesday, September 27th. The industrial products company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The business had revenue of $275.70 million for the quarter, compared to analyst estimates of $265.33 million. Actuant Corporation had a negative net margin of 6.04% and a positive return on equity of 9.43%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share.
A number of research firms recently commented on ATU. Royal Bank Of Canada restated a “hold” rating and issued a $24.00 price objective on shares of Actuant Corporation in a report on Wednesday, October 25th. Robert W. Baird increased their price objective on Actuant Corporation from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. BMO Capital Markets restated a “market perform” rating and issued a $25.00 price objective (up previously from $23.00) on shares of Actuant Corporation in a report on Saturday, September 30th. BidaskClub downgraded Actuant Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Finally, SunTrust Banks, Inc. restated a “hold” rating and issued a $23.00 price objective on shares of Actuant Corporation in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $25.00.
In other Actuant Corporation news, VP Ted Wozniak sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $26.19, for a total transaction of $130,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Blair William & Co. IL boosted its position in shares of Actuant Corporation by 1.1% in the second quarter. Blair William & Co. IL now owns 10,305 shares of the industrial products company’s stock valued at $254,000 after acquiring an additional 109 shares during the period. US Bancorp DE boosted its position in shares of Actuant Corporation by 3.2% in the second quarter. US Bancorp DE now owns 6,173 shares of the industrial products company’s stock valued at $152,000 after acquiring an additional 190 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Actuant Corporation by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the industrial products company’s stock valued at $598,000 after acquiring an additional 200 shares during the period. Arizona State Retirement System boosted its position in shares of Actuant Corporation by 1.0% in the second quarter. Arizona State Retirement System now owns 31,145 shares of the industrial products company’s stock valued at $766,000 after acquiring an additional 300 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Actuant Corporation by 4.0% in the second quarter. Amalgamated Bank now owns 8,183 shares of the industrial products company’s stock valued at $201,000 after acquiring an additional 314 shares during the period.
Actuant Corporation Company Profile
Actuant Corporation designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company operates through three segments: Industrial, Energy and Engineered Solutions. The Company’s Industrial segment is primarily involved in the design, manufacture and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure and production automation markets.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Actuant Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Actuant Corporation and related companies with MarketBeat.com's FREE daily email newsletter.