$0.63 Earnings Per Share Expected for ITT Inc. (ITT) This Quarter
Equities research analysts predict that ITT Inc. (NYSE:ITT) will post earnings of $0.63 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for ITT’s earnings, with the lowest EPS estimate coming in at $0.62 and the highest estimate coming in at $0.65. ITT posted earnings per share of $0.67 in the same quarter last year, which would suggest a negative year over year growth rate of 6%. The company is scheduled to announce its next earnings results on Thursday, August 3rd.
On average, analysts expect that ITT will report full year earnings of $2.42 per share for the current financial year, with EPS estimates ranging from $2.38 to $2.50. For the next year, analysts expect that the company will post earnings of $2.81 per share, with EPS estimates ranging from $2.60 to $2.92. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover ITT.
ITT (NYSE:ITT) last announced its earnings results on Monday, May 8th. The conglomerate reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The company had revenue of $625.80 million during the quarter, compared to analyst estimates of $607.08 million. ITT had a net margin of 7.93% and a return on equity of 15.41%. ITT’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share.
ITT has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price objective on shares of ITT from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, February 15th. Oppenheimer Holdings Inc. raised shares of ITT from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Thursday, February 16th. CIBC raised shares of ITT from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 16th. Finally, TheStreet cut ITT from a “b” rating to a “c+” rating in a report on Tuesday, February 14th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $46.33.
Shares of ITT (NYSE ITT) traded down 0.22% on Friday, reaching $40.00. 344,804 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $40.28 and its 200-day moving average price is $40.62. ITT has a 52 week low of $30.06 and a 52 week high of $44.00. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 18.43 and a beta of 1.39.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 12th will be issued a dividend of $0.128 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, June 8th. ITT’s payout ratio is currently 22.94%.
In other ITT news, CEO Denise L. Ramos sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $41.35, for a total value of $2,067,500.00. Following the completion of the transaction, the chief executive officer now owns 308,032 shares in the company, valued at approximately $12,737,123.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Denise L. Ramos sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $41.00, for a total value of $3,075,000.00. Following the completion of the transaction, the insider now owns 258,032 shares of the company’s stock, valued at approximately $10,579,312. The disclosure for this sale can be found here. Insiders have sold a total of 153,089 shares of company stock valued at $6,294,149 in the last quarter. Company insiders own 1.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ITT. UBS Oconnor LLC boosted its position in ITT by 88.2% in the first quarter. UBS Oconnor LLC now owns 199,500 shares of the conglomerate’s stock worth $8,183,000 after buying an additional 93,505 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of ITT by 95.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 41,720 shares of the conglomerate’s stock worth $1,712,000 after buying an additional 20,370 shares during the last quarter. Bank of Nova Scotia raised its position in shares of ITT by 35.0% in the first quarter. Bank of Nova Scotia now owns 184,371 shares of the conglomerate’s stock worth $7,563,000 after buying an additional 47,771 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of ITT by 387.3% in the first quarter. Point72 Asset Management L.P. now owns 314,300 shares of the conglomerate’s stock worth $12,893,000 after buying an additional 249,800 shares during the last quarter. Finally, Janus Capital Management LLC raised its position in shares of ITT by 4.8% in the first quarter. Janus Capital Management LLC now owns 2,827,936 shares of the conglomerate’s stock worth $116,002,000 after buying an additional 130,595 shares during the last quarter. Hedge funds and other institutional investors own 91.15% of the company’s stock.
ITT 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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