Actuant Corp. (ATU) Issues Q1 Earnings Guidance
Actuant Corp. (NYSE:ATU) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.14-0.19 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.29. The company issued revenue guidance of $260-270 million, compared to the consensus revenue estimate of $294.69 million.Actuant Corp. also updated its FY17 guidance to $1.00-1.20 EPS.
Shares of Actuant Corp. (NYSE:ATU) opened at 22.12 on Wednesday. Actuant Corp. has a 52 week low of $17.02 and a 52 week high of $27.71. The firm’s 50-day moving average is $23.37 and its 200 day moving average is $24.55. The firm’s market cap is $1.30 billion.
Actuant Corp. (NYSE:ATU) last announced its quarterly earnings results on Wednesday, September 28th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. Actuant Corp. had a positive return on equity of 13.05% and a negative net margin of 8.56%. The business earned $275.77 million during the quarter, compared to analysts’ expectations of $300.38 million. During the same quarter last year, the business posted $0.37 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities research analysts forecast that Actuant Corp. will post ($0.01) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Wednesday, September 28th. Actuant Corp.’s dividend payout ratio is presently -2.34%.
A number of analysts recently commented on the company. Zacks Investment Research upgraded Actuant Corp. from a sell rating to a hold rating in a research report on Monday, September 12th. Barclays PLC reiterated an equal weight rating and set a $20.00 price objective on shares of Actuant Corp. in a research report on Tuesday, July 12th. Wells Fargo & Co. reiterated an outperform rating on shares of Actuant Corp. in a research report on Friday, June 24th. Royal Bank Of Canada dropped their price objective on Actuant Corp. from $30.00 to $27.00 and set an outperform rating for the company in a research report on Thursday, June 23rd. Finally, JPMorgan Chase & Co. cut Actuant Corp. from a neutral rating to an underweight rating and dropped their price objective for the stock from $25.00 to $20.00 in a research report on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Actuant Corp. currently has an average rating of Hold and an average target price of $23.78.
In other news, CEO Randal W. Baker acquired 10,795 shares of Actuant Corp. stock in a transaction dated Monday, July 11th. The shares were acquired at an average cost of $23.14 per share, with a total value of $249,796.30. Following the purchase, the chief executive officer now directly owns 63,979 shares of the company’s stock, valued at approximately $1,480,474.06. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.90% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its position in Actuant Corp. by 1.3% in the second quarter. Arizona State Retirement System now owns 30,545 shares of the company’s stock valued at $691,000 after buying an additional 400 shares in the last quarter. Cipher Capital LP increased its stake in shares of Actuant Corp. by 0.8% in the second quarter. Cipher Capital LP now owns 123,021 shares of the company’s stock valued at $2,782,000 after buying an additional 947 shares during the last quarter. Profund Advisors LLC increased its stake in shares of Actuant Corp. by 8.0% in the second quarter. Profund Advisors LLC now owns 20,005 shares of the company’s stock valued at $452,000 after buying an additional 1,483 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Actuant Corp. by 0.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,443,789 shares of the company’s stock valued at $32,644,000 after buying an additional 4,758 shares during the last quarter. Finally, BlackRock Group LTD increased its stake in shares of Actuant Corp. by 6.3% in the second quarter. BlackRock Group LTD now owns 80,953 shares of the company’s stock valued at $1,830,000 after buying an additional 4,800 shares during the last quarter.
Actuant Corp. Company Profile
Actuant Corporation is a global diversified company that designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company is organized into three operating segments: Industrial, Energy and Engineered Solutions. The Industrial segment is involved in the design, manufacture and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure and production automation markets.
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