Brokerages Anticipate ITT Inc. (ITT) Will Post Earnings of $0.62 Per Share
Analysts expect that ITT Inc. (NYSE:ITT) will report $0.62 earnings per share for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for ITT’s earnings. The highest EPS estimate is $0.66 and the lowest is $0.60. ITT posted earnings per share of $0.58 during the same quarter last year, which indicates a positive year over year growth rate of 6.9%. The company is scheduled to issue its next earnings results on Friday, November 3rd.
According to Zacks, analysts expect that ITT will report full-year earnings of $2.47 per share for the current fiscal year, with EPS estimates ranging from $2.45 to $2.50. For the next financial year, analysts anticipate that the business will report earnings of $2.82 per share, with EPS estimates ranging from $2.65 to $2.92. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for ITT.
ITT (NYSE:ITT) last issued its earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. ITT had a net margin of 8.64% and a return on equity of 14.17%. The business had revenue of $630.90 million for the quarter, compared to analyst estimates of $628.65 million. During the same period in the previous year, the business earned $0.67 EPS. The firm’s revenue was up .8% on a year-over-year basis.
A number of research firms recently commented on ITT. ValuEngine lowered shares of ITT from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Friday, July 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $49.00 price target on shares of ITT in a research report on Wednesday, August 16th. BidaskClub lowered shares of ITT from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of ITT from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $46.00 to $43.00 in a research report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $46.29.
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A number of large investors have recently made changes to their positions in ITT. Pinnacle Financial Partners Inc. purchased a new stake in shares of ITT during the second quarter worth about $105,000. Riverhead Capital Management LLC increased its stake in shares of ITT by 57.0% in the second quarter. Riverhead Capital Management LLC now owns 2,918 shares of the conglomerate’s stock worth $117,000 after buying an additional 1,059 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ITT by 10.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock worth $132,000 after buying an additional 314 shares during the last quarter. Timber Hill LLC purchased a new stake in shares of ITT during the first quarter worth about $201,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of ITT during the first quarter worth about $214,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.
Shares of ITT (NYSE ITT) traded up 0.45% during mid-day trading on Wednesday, hitting $40.54. 259,010 shares of the stock traded hands. ITT has a one year low of $32.46 and a one year high of $44.00. The firm has a market capitalization of $3.57 billion, a P/E ratio of 17.36 and a beta of 1.46. The company’s 50 day moving average is $40.62 and its 200 day moving average is $40.40.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be paid a dividend of $0.128 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.51 dividend on an annualized basis and a yield of 1.26%. ITT’s payout ratio is 21.70%.
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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