ITT Corp. to Post Q4 2016 Earnings of $0.41 Per Share, KeyCorp Forecasts (ITT)
ITT Corp. (NYSE:ITT) – KeyCorp reduced their Q4 2016 earnings per share (EPS) estimates for ITT Corp. in a research note issued on Monday. KeyCorp analyst J. Hammond now forecasts that the firm will post earnings of $0.41 per share for the quarter, down from their prior estimate of $0.56. KeyCorp currently has a “Overweight” rating and a $40.00 target price on the stock.
A number of other equities analysts have also weighed in on the stock. Barclays PLC reiterated a “buy” rating on shares of ITT Corp. in a research report on Monday. Zacks Investment Research downgraded shares of ITT Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Finally, Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of ITT Corp. in a report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. ITT Corp. has an average rating of “Buy” and a consensus target price of $40.57.
Shares of ITT Corp. (NYSE:ITT) opened at 35.67 on Wednesday. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 16.35 and a beta of 1.38. The firm has a 50-day moving average of $34.77 and a 200-day moving average of $34.65. ITT Corp. has a one year low of $29.15 and a one year high of $40.12.
ITT Corp. (NYSE:ITT) last announced its quarterly earnings results on Friday, November 4th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.58. The business had revenue of $582 million for the quarter, compared to analyst estimates of $582.12 million. ITT Corp. had a net margin of 7.93% and a return on equity of 15.41%. The company’s revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be paid a dividend of $0.124 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, December 7th. ITT Corp.’s payout ratio is 22.94%.
Large investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC increased its stake in ITT Corp. by 72.5% in the second quarter. LS Investment Advisors LLC now owns 5,552 shares of the company’s stock worth $178,000 after buying an additional 2,333 shares during the last quarter. IBM Retirement Fund increased its stake in shares of ITT Corp. by 0.4% in the second quarter. IBM Retirement Fund now owns 9,123 shares of the company’s stock valued at $292,000 after buying an additional 34 shares in the last quarter. Punch & Associates Investment Management Inc. increased its stake in shares of ITT Corp. by 2.0% in the second quarter. Punch & Associates Investment Management Inc. now owns 47,454 shares of the company’s stock valued at $1,518,000 after buying an additional 936 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of ITT Corp. by 17.4% in the second quarter. Nisa Investment Advisors LLC now owns 25,624 shares of the company’s stock valued at $819,000 after buying an additional 3,800 shares in the last quarter. Finally, Creative Planning increased its stake in shares of ITT Corp. by 10.5% in the second quarter. Creative Planning now owns 5,293 shares of the company’s stock valued at $169,000 after buying an additional 501 shares in the last quarter. 89.37% of the stock is currently owned by institutional investors.
About ITT Corp.
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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