Analysts Offer Predictions for ITT Corp.’s Q4 2016 Earnings (ITT)
ITT Corp. (NYSE:ITT) – Research analysts at William Blair cut their Q4 2016 EPS estimates for shares of ITT Corp. in a note issued to investors on Monday. William Blair analyst N. Heymann now anticipates that the firm will earn $0.41 per share for the quarter, down from their previous forecast of $0.60.
ITT has been the topic of a number of other reports. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of ITT Corp. in a research note on Tuesday, August 23rd. Barclays PLC upgraded shares of ITT Corp. from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $35.00 to $41.00 in a research note on Monday, October 24th. They noted that the move was a valuation call. Zacks Investment Research cut shares of ITT Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Finally, KeyCorp upgraded shares of ITT Corp. from a “sector weight” rating to an “overweight” rating and set a $40.00 target price on the stock in a research note on Monday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $40.57.
ITT Corp. (NYSE:ITT) opened at 38.29 on Wednesday. The company has a market capitalization of $3.42 billion, a PE ratio of 17.56 and a beta of 1.38. The company has a 50-day moving average of $34.85 and a 200-day moving average of $34.68. ITT Corp. has a 52 week low of $29.15 and a 52 week high of $40.12.
ITT Corp. (NYSE:ITT) last announced its quarterly earnings data on Friday, November 4th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. The business had revenue of $582 million for the quarter, compared to analysts’ expectations of $582.12 million. ITT Corp. had a net margin of 7.93% and a return on equity of 15.41%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share.
Hedge funds have recently bought and sold shares of the company. KCG Holdings Inc. raised its stake in ITT Corp. by 66.8% in the third quarter. KCG Holdings Inc. now owns 34,327 shares of the company’s stock worth $1,230,000 after buying an additional 13,747 shares during the period. Espalier Global Management LLC purchased a new stake in ITT Corp. during the third quarter worth $3,584,000. Piermont Capital Management Inc. raised its stake in ITT Corp. by 21.7% in the third quarter. Piermont Capital Management Inc. now owns 93,135 shares of the company’s stock worth $3,338,000 after buying an additional 16,630 shares during the period. Laurion Capital Management LP purchased a new stake in ITT Corp. during the third quarter worth $211,000. Finally, Pacer Advisors Inc. raised its stake in ITT Corp. by 9.2% in the third quarter. Pacer Advisors Inc. now owns 7,396 shares of the company’s stock worth $265,000 after buying an additional 624 shares during the period. 89.37% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be issued a dividend of $0.124 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Wednesday, December 7th. ITT Corp.’s dividend payout ratio (DPR) is presently 22.94%.
ITT Corp. Company Profile
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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