Actuant Co. (ATU) Expected to Post FY2019 Earnings of $1.50 Per Share
Actuant Co. (NYSE:ATU) – Investment analysts at Gabelli reduced their FY2019 earnings per share estimates for shares of Actuant in a note issued to investors on Monday. Gabelli analyst J. Bergner now anticipates that the firm will post earnings of $1.50 per share for the year, down from their prior estimate of $1.55. Gabelli also issued estimates for Actuant’s FY2020 earnings at $1.70 EPS.
ATU has been the topic of several other research reports. BMO Capital Markets set a $22.00 price objective on Actuant and gave the stock a “hold” rating in a report on Saturday. Royal Bank Of Canada dropped their price objective on Actuant from $30.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, June 23rd. Wells Fargo & Co. lowered Actuant from an “outperform” rating to a “market perform” rating in a report on Friday. Zacks Investment Research lowered Actuant from a “hold” rating to a “sell” rating in a report on Friday, September 2nd. Finally, TheStreet lowered Actuant from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. Actuant currently has a consensus rating of “Hold” and an average price target of $23.67.
Actuant (NYSE:ATU) traded down 3.05% during midday trading on Tuesday, reaching $22.58. The company’s stock had a trading volume of 650,902 shares. The firm’s market capitalization is $1.33 billion. The company’s 50-day moving average is $23.17 and its 200 day moving average is $24.51. Actuant has a 52 week low of $20.49 and a 52 week high of $27.71.
Actuant (NYSE:ATU) last posted its quarterly earnings data on Wednesday, September 28th. The company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Actuant had a positive return on equity of 13.22% and a negative net margin of 9.15%. The company earned $275.77 million during the quarter. During the same quarter last year, the firm posted $0.37 earnings per share. Actuant’s quarterly revenue was down 8.0% on a year-over-year basis.
Large investors have recently made changes to their positions in the stock. Raymond James Trust N.A. purchased a new stake in shares of Actuant during the third quarter worth approximately $204,000. Mason Street Advisors LLC purchased a new stake in shares of Actuant during the second quarter worth approximately $260,000. Public Employees Retirement System of Ohio increased its stake in shares of Actuant by 680.4% in the second quarter. Public Employees Retirement System of Ohio now owns 43,817 shares of the company’s stock worth $991,000 after buying an additional 38,202 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Actuant by 4.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 325,154 shares of the company’s stock worth $7,352,000 after buying an additional 14,460 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Actuant by 1.3% in the second quarter. Arizona State Retirement System now owns 30,545 shares of the company’s stock worth $691,000 after buying an additional 400 shares during the last quarter.
The company 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 $0.04 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.71%. Actuant’s payout ratio is currently -2.23%.
Actuant Company Profile
Actuant Corporation designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company operates through three segments: Industrial, Energy and Engineered Solutions. The Company’s Industrial segment is primarily 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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