Wall Street analysts predict that Applied Industrial Technologies, Inc. (NYSE:AIT) will post earnings per share of $0.71 for the current quarter, Zacks reports. Two analysts have made estimates for Applied Industrial Technologies’ earnings. The highest EPS estimate is $0.74 and the lowest is $0.69. Applied Industrial Technologies reported earnings per share of $0.61 in the same quarter last year, which indicates a positive year-over-year growth rate of 16.4%. The company is expected to issue its next earnings report on Thursday, January 25th.

According to Zacks, analysts expect that Applied Industrial Technologies will report full year earnings of $3.19 per share for the current financial year, with EPS estimates ranging from $3.17 to $3.20. For the next financial year, analysts forecast that the firm will post earnings of $3.43 per share, with EPS estimates ranging from $3.40 to $3.50. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Applied Industrial Technologies.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.10. The business had revenue of $680.70 million during the quarter, compared to the consensus estimate of $668.18 million. Applied Industrial Technologies had a return on equity of 16.25% and a net margin of 5.29%. Applied Industrial Technologies’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 earnings per share.

Several research analysts have commented on AIT shares. ValuEngine downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Zacks Investment Research downgraded Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Finally, BidaskClub raised Applied Industrial Technologies from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $66.00.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Koch Industries Inc. increased its stake in shares of Applied Industrial Technologies by 8,147.3% in the second quarter. Koch Industries Inc. now owns 297,728 shares of the industrial products company’s stock valued at $293,000 after buying an additional 294,118 shares during the period. Principal Financial Group Inc. increased its stake in shares of Applied Industrial Technologies by 51.0% in the second quarter. Principal Financial Group Inc. now owns 717,817 shares of the industrial products company’s stock valued at $42,387,000 after buying an additional 242,556 shares during the period. AJO LP acquired a new position in shares of Applied Industrial Technologies in the second quarter valued at approximately $11,749,000. Vanguard Group Inc. increased its stake in shares of Applied Industrial Technologies by 4.8% in the second quarter. Vanguard Group Inc. now owns 3,662,402 shares of the industrial products company’s stock valued at $216,264,000 after buying an additional 166,858 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Applied Industrial Technologies by 248.4% in the third quarter. American Century Companies Inc. now owns 182,063 shares of the industrial products company’s stock valued at $11,980,000 after buying an additional 129,799 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Shares of Applied Industrial Technologies (NYSE:AIT) traded down $0.15 during midday trading on Friday, reaching $63.80. The company’s stock had a trading volume of 184,565 shares, compared to its average volume of 203,257. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.83 and a current ratio of 3.13. The firm has a market capitalization of $2,480.00, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 1.67 and a beta of 0.93. Applied Industrial Technologies has a 12-month low of $54.00 and a 12-month high of $70.05.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.82%. The ex-dividend date was Tuesday, November 14th. Applied Industrial Technologies’s payout ratio is 32.58%.

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About Applied Industrial Technologies

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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Earnings History and Estimates for Applied Industrial Technologies (NYSE:AIT)

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