SunTrust Banks Weighs in on Actuant Corp.’s FY2017 Earnings (ATU)
Actuant Corp. (NYSE:ATU) – Analysts at SunTrust Banks dropped their FY2017 EPS estimates for Actuant Corp. in a report issued on Wednesday. SunTrust Banks analyst C. Brady now forecasts that the firm will post earnings per share of $1.00 for the year, down from their prior estimate of $1.26.
Actuant Corp. (NYSE:ATU) last announced its earnings results on Wednesday, September 28th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. The business had revenue of $275.77 million for the quarter. Actuant Corp. had a positive return on equity of 13.22% and a negative net margin of 9.15%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 EPS.
Other equities research analysts have also issued research reports about the company. Barclays PLC reiterated an “equal weight” rating and issued a $20.00 price target on shares of Actuant Corp. in a research report on Tuesday, July 12th. Zacks Investment Research upgraded Actuant Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. BMO Capital Markets reiterated a “hold” rating on shares of Actuant Corp. in a research report on Saturday. Wells Fargo & Co. reiterated an “outperform” rating on shares of Actuant Corp. in a research report on Friday, June 24th. Finally, Royal Bank Of Canada reduced their price target on Actuant Corp. from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, June 23rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Actuant Corp. currently has an average rating of “Hold” and a consensus price target of $23.78.
Actuant Corp. (NYSE:ATU) traded up 1.92% on Monday, reaching $23.90. The company’s stock had a trading volume of 121,408 shares. The company’s market cap is $1.41 billion. Actuant Corp. has a 52-week low of $20.49 and a 52-week high of $27.71. The firm’s 50-day moving average price is $23.24 and its 200 day moving average price is $24.53.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Wednesday, September 28th. Actuant Corp.’s dividend payout ratio (DPR) is currently -2.23%.
In other news, CEO Randal W. Baker purchased 10,795 shares of the company’s stock in a transaction that occurred on 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 owns 63,979 shares in the company, valued at $1,480,474.06. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors L.L.C. bought a new stake in shares of Actuant Corp. during the first quarter valued at approximately $395,000. Virginia Retirement System bought a new stake in shares of Actuant Corp. during the first quarter valued at approximately $1,248,000. Prudential Financial Inc. increased its stake in shares of Actuant Corp. by 1.8% in the first quarter. Prudential Financial Inc. now owns 140,932 shares of the company’s stock valued at $3,482,000 after buying an additional 2,500 shares during the period. Connable Office Inc. increased its stake in shares of Actuant Corp. by 0.8% in the first quarter. Connable Office Inc. now owns 8,575 shares of the company’s stock valued at $212,000 after buying an additional 70 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Actuant Corp. by 142.8% in the first quarter. BlackRock Inc. now owns 4,666 shares of the company’s stock valued at $115,000 after buying an additional 2,744 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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