Research Analysts Set Expectations for Actuant Corp.’s Q1 2017 Earnings (ATU)
Actuant Corp. (NYSE:ATU) – KeyCorp issued their Q1 2017 earnings per share estimates for Actuant Corp. in a research note issued to investors on Wednesday. KeyCorp analyst J. Hammond anticipates that the firm will post earnings per share of $0.17 for the quarter. KeyCorp also issued estimates for Actuant Corp.’s FY2018 earnings at $1.25 EPS.
Actuant Corp. (NYSE:ATU) last released its quarterly earnings results on Wednesday, September 28th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Actuant Corp. had a negative net margin of 9.15% and a positive return on equity of 13.22%. The firm earned $275.77 million during the quarter. During the same period in the previous year, the company earned $0.37 EPS. Actuant Corp.’s revenue for the quarter was down 8.0% compared to the same quarter last year.
Several other equities analysts have also commented on ATU. JPMorgan Chase & Co. lowered Actuant Corp. from a “neutral” rating to an “underweight” rating and cut their price target for the company from $25.00 to $20.00 in a research note on Wednesday, June 22nd. Royal Bank Of Canada cut their price target on Actuant Corp. from $30.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, June 23rd. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of Actuant Corp. in a research report on Friday, June 24th. Barclays PLC reaffirmed an “equal weight” rating and set a $20.00 price objective on shares of Actuant Corp. in a research report on Tuesday, July 12th. Finally, Zacks Investment Research downgraded Actuant Corp. from a “hold” rating to a “sell” rating in a research report on Friday, September 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $23.78.
Shares of Actuant Corp. (NYSE:ATU) opened at 23.24 on Monday. Actuant Corp. has a 52-week low of $19.07 and a 52-week high of $27.71. The stock’s 50 day moving average is $23.27 and its 200 day moving average is $24.52. The stock’s market cap is $1.37 billion.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. First Republic Investment Management Inc. purchased a new position in shares of Actuant Corp. during the first quarter valued at about $546,000. Invictus RG boosted its position in shares of Actuant Corp. by 45.1% in the first quarter. Invictus RG now owns 18,844 shares of the company’s stock valued at $466,000 after buying an additional 5,855 shares during the last quarter. HBK Investments L P purchased a new position in shares of Actuant Corp. during the first quarter valued at about $1,279,000. State Street Corp boosted its position in shares of Actuant Corp. by 0.6% in the first quarter. State Street Corp now owns 1,156,962 shares of the company’s stock valued at $28,585,000 after buying an additional 7,393 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Actuant Corp. by 2.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 18,280 shares of the company’s stock valued at $452,000 after buying an additional 355 shares during the last quarter.
In other Actuant Corp. news, CEO Randal W. Baker purchased 10,795 shares of the stock in a transaction on Monday, July 11th. The stock was acquired at an average price of $23.14 per share, with a total value of $249,796.30. Following the completion of the acquisition, the chief executive officer now owns 63,979 shares in the company, valued at $1,480,474.06. The acquisition was disclosed in a filing with the SEC, which is available at this link. 3.90% of the stock is owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, September 28th. Actuant Corp.’s dividend payout ratio is presently -2.23%.
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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