Equities analysts expect Applied Industrial Technologies, Inc. (NYSE:AIT) to report sales of $651.05 million for the current quarter, according to Zacks. Two analysts have issued estimates for Applied Industrial Technologies’ earnings, with the highest sales estimate coming in at $655.60 million and the lowest estimate coming in at $646.50 million. Applied Industrial Technologies posted sales of $608.12 million in the same quarter last year, which indicates a positive year over year growth rate of 7.1%. The company is scheduled to announce its next earnings report on Thursday, January 25th.

According to Zacks, analysts expect that Applied Industrial Technologies will report full-year sales of $651.05 million for the current fiscal year, with estimates ranging from $2.72 billion to $2.74 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.85 billion per share, with estimates ranging from $2.84 billion to $2.86 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Applied Industrial Technologies.

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

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. BidaskClub cut shares of Applied Industrial Technologies from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. Finally, ValuEngine cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $66.00.

Shares of Applied Industrial Technologies (AIT) opened at $64.70 on Tuesday. The stock has a market cap of $2,476.41, a PE ratio of 21.27, a PEG ratio of 1.67 and a beta of 0.93. Applied Industrial Technologies has a 52-week low of $54.00 and a 52-week high of $70.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.13 and a quick ratio of 1.83.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Wednesday, November 15th were given a dividend of $0.29 per share. The ex-dividend date was Tuesday, November 14th. This represents a $1.16 annualized dividend and a yield of 1.79%. Applied Industrial Technologies’s dividend payout ratio is 32.58%.

A number of institutional investors and hedge funds have recently bought and sold shares of AIT. Koch Industries Inc. lifted its position in Applied Industrial Technologies by 8,147.3% during the second quarter. Koch Industries Inc. now owns 297,728 shares of the industrial products company’s stock worth $293,000 after purchasing an additional 294,118 shares during the period. Principal Financial Group Inc. lifted its holdings 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 worth $42,387,000 after acquiring an additional 242,556 shares during the last quarter. AJO LP bought a new position in shares of Applied Industrial Technologies in the second quarter worth about $11,749,000. Vanguard Group Inc. lifted its holdings 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 worth $216,264,000 after acquiring an additional 166,858 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings 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 worth $11,980,000 after acquiring an additional 129,799 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

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

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