Applied Industrial Technologies (NYSE:AIT) updated its FY 2020 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.20-4.50 for the period, compared to the Thomson Reuters consensus estimate of $4.93. The company issued revenue guidance of $3.40328422-3.54219378 billion, compared to the consensus revenue estimate of $3.68 billion.
Separately, ValuEngine raised Applied Industrial Technologies from a sell rating to a hold rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Applied Industrial Technologies presently has an average rating of Hold and an average price target of $65.00.
Shares of AIT stock opened at $53.87 on Wednesday. The company has a current ratio of 2.70, a quick ratio of 1.61 and a debt-to-equity ratio of 1.06. The firm has a market cap of $2.14 billion, a P/E ratio of 14.40 and a beta of 1.31. The stock’s 50 day simple moving average is $58.95. Applied Industrial Technologies has a 1-year low of $50.56 and a 1-year high of $82.35.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Wednesday, August 14th. Applied Industrial Technologies’s payout ratio is 33.16%.
About Applied Industrial Technologies
Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.
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