Gabelli Brokers Lift Earnings Estimates for Actuant Corporation (ATU)
Actuant Corporation (NYSE:ATU) – Equities researchers at Gabelli boosted their FY2018 earnings per share estimates for Actuant Corporation in a research report issued on Thursday. Gabelli analyst J. Bergner now forecasts that the industrial products company will earn $1.10 per share for the year, up from their prior estimate of $1.05. Gabelli has a “Buy” rating on the stock. Gabelli also issued estimates for Actuant Corporation’s FY2019 earnings at $1.30 EPS and FY2020 earnings at $1.50 EPS.
A number of other analysts have also recently weighed in on the stock. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $23.00 price target on shares of Actuant Corporation in a research report on Monday. Robert W. Baird raised their price objective on Actuant Corporation from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday. BMO Capital Markets reissued a “market perform” rating and issued a $25.00 price objective (up from $23.00) on shares of Actuant Corporation in a research report on Saturday. Royal Bank Of Canada restated a “hold” rating and set a $28.00 price objective on shares of Actuant Corporation in a research note on Tuesday, June 6th. Finally, BidaskClub downgraded Actuant Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $26.00.
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Shares of Actuant Corporation (NYSE ATU) opened at 25.60 on Monday. The firm’s market capitalization is $1.53 billion. The company’s 50 day moving average price is $24.07 and its 200-day moving average price is $25.26. Actuant Corporation has a 12 month low of $21.40 and a 12 month high of $29.80.
Actuant Corporation (NYSE:ATU) last issued its earnings results on Wednesday, September 27th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). Actuant Corporation had a positive return on equity of 9.43% and a negative net margin of 6.04%. The company had revenue of $275.70 million during the quarter, compared to analyst estimates of $265.33 million. During the same period last year, the business earned $0.30 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Thursday, September 28th. Actuant Corporation’s dividend payout ratio (DPR) is -3.57%.
A number of institutional investors and hedge funds have recently modified their holdings of ATU. BlackRock Inc. grew its stake in Actuant Corporation by 24,997.9% during the 1st quarter. BlackRock Inc. now owns 7,785,372 shares of the industrial products company’s stock valued at $205,145,000 after purchasing an additional 7,754,352 shares in the last quarter. Neuberger Berman Group LLC purchased a new stake in Actuant Corporation during the 2nd quarter worth approximately $14,152,000. Frontier Capital Management Co. LLC increased its holdings in Actuant Corporation by 43.7% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,550,027 shares of the industrial products company’s stock worth $38,131,000 after purchasing an additional 471,037 shares during the last quarter. SG Capital Management LLC acquired a new position in shares of Actuant Corporation in the 2nd quarter valued at approximately $11,155,000. Finally, Kennedy Capital Management Inc. acquired a new position in shares of Actuant Corporation in the 2nd quarter valued at approximately $8,711,000.
About Actuant Corporation
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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