Equities analysts expect ITT Inc (NYSE:ITT) to announce earnings of $0.91 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for ITT’s earnings, with the lowest EPS estimate coming in at $0.89 and the highest estimate coming in at $0.94. ITT posted earnings of $0.82 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 11%. The business is expected to issue its next quarterly earnings results on Friday, November 1st.
According to Zacks, analysts expect that ITT will report full-year earnings of $3.63 per share for the current year, with EPS estimates ranging from $3.61 to $3.65. For the next fiscal year, analysts forecast that the firm will post earnings of $3.97 per share, with EPS estimates ranging from $3.79 to $4.15. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for ITT.
ITT (NYSE:ITT) last announced its quarterly earnings data on Friday, August 2nd. The conglomerate reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.04. The company had revenue of $719.90 million for the quarter, compared to analysts’ expectations of $703.80 million. ITT had a net margin of 10.85% and a return on equity of 16.68%. During the same period in the previous year, the company posted $0.82 EPS.
ITT has been the subject of a number of research analyst reports. ValuEngine downgraded shares of ITT from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Oppenheimer set a $72.00 price objective on shares of ITT and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Wednesday, June 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $66.20.
ITT traded down $2.34 during trading on Friday, hitting $54.65. The stock had a trading volume of 668,500 shares, compared to its average volume of 536,435. ITT has a twelve month low of $44.89 and a twelve month high of $66.88. The company’s 50-day moving average price is $61.14 and its 200 day moving average price is $59.93. The firm has a market capitalization of $5.02 billion, a P/E ratio of 16.92, a PEG ratio of 1.60 and a beta of 1.57.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be given a dividend of $0.147 per share. This represents a $0.59 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, September 9th. ITT’s dividend payout ratio (DPR) is presently 18.27%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan boosted its holdings in ITT by 1.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,160 shares of the conglomerate’s stock worth $1,058,000 after acquiring an additional 190 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of ITT by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 23,400 shares of the conglomerate’s stock valued at $1,357,000 after buying an additional 200 shares during the last quarter. Oakbrook Investments LLC boosted its stake in shares of ITT by 2.1% during the 1st quarter. Oakbrook Investments LLC now owns 9,700 shares of the conglomerate’s stock valued at $563,000 after buying an additional 200 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of ITT by 63.5% during the 2nd quarter. Advisory Services Network LLC now owns 528 shares of the conglomerate’s stock valued at $34,000 after buying an additional 205 shares during the last quarter. Finally, ETF Managers Group LLC boosted its stake in shares of ITT by 8.6% during the 2nd quarter. ETF Managers Group LLC now owns 3,190 shares of the conglomerate’s stock valued at $204,000 after buying an additional 253 shares during the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.
ITT Company Profile
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.
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