Actuant Corp. (ATU) Updates FY17 Earnings Guidance
Actuant Corp. (NYSE:ATU) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.00-1.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.23. The company issued revenue guidance of $1.075-1.125 billion, compared to the consensus revenue estimate of $1.16 billion.Actuant Corp. also updated its Q1 guidance to $0.14-0.19 EPS.
A number of research firms recently commented on ATU. Zacks Investment Research cut Actuant Corp. from a hold rating to a sell rating in a report on Friday, September 2nd. Royal Bank Of Canada reduced their price target on Actuant Corp. from $30.00 to $27.00 and set an outperform rating for the company in a report on Thursday, June 23rd. JPMorgan Chase & Co. cut Actuant Corp. from a neutral rating to an underweight rating and reduced their price target for the stock from $25.00 to $20.00 in a report on Wednesday, June 22nd. Barclays PLC reiterated an equal weight rating and set a $20.00 price target on shares of Actuant Corp. in a report on Tuesday, July 12th. Finally, Wells Fargo & Co. reiterated an outperform rating on shares of Actuant Corp. in a report on Friday, June 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $23.78.
Shares of Actuant Corp. (NYSE:ATU) opened at 22.12 on Wednesday. Actuant Corp. has a one year low of $17.02 and a one year high of $27.71. The company’s market cap is $1.30 billion. The stock’s 50 day moving average price is $23.37 and its 200-day moving average price is $24.55.
Actuant Corp. (NYSE:ATU) last issued its quarterly earnings results on Wednesday, September 28th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Actuant Corp. had a negative net margin of 8.56% and a positive return on equity of 13.05%. The company earned $275.77 million during the quarter, compared to analyst estimates of $300.38 million. During the same quarter last year, the business posted $0.37 EPS. Actuant Corp.’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, analysts expect that Actuant Corp. will post ($0.01) EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.72%. Actuant Corp.’s payout ratio is currently -2.34%.
In related news, CEO Randal W. Baker purchased 10,795 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was bought at an average price of $23.14 per share, for a total transaction of $249,796.30. Following the purchase, the chief executive officer now directly owns 63,979 shares in the company, valued at approximately $1,480,474.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.90% of the company’s stock.
Several large investors have recently modified their holdings of ATU. Arizona State Retirement System raised its stake in shares of 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 during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Actuant Corp. during the second quarter valued at approximately $551,000. Penn Capital Management Co. Inc. acquired a new position in Actuant Corp. during the second quarter valued at approximately $6,653,000. Thrivent Financial for Lutherans increased its position in Actuant Corp. by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,219,100 shares of the company’s stock valued at $27,564,000 after buying an additional 15,930 shares during the period. Finally, Profund Advisors LLC increased its position in 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 period.
About Actuant Corp.
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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