Actuant Corp. (ATU) to Post Q1 2017 Earnings of $0.17 Per Share, KeyCorp Forecasts
Actuant Corp. (NYSE:ATU) – Investment analysts at KeyCorp issued their Q1 2017 earnings per share (EPS) estimates for shares of Actuant Corp. in a report issued on Wednesday. KeyCorp analyst J. Hammond expects that the brokerage will earn $0.17 per share for the quarter. KeyCorp also issued estimates for Actuant Corp.’s FY2018 earnings at $1.25 EPS.
Actuant Corp. (NYSE:ATU) last issued its quarterly earnings data on Wednesday, September 28th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.29 by $0.01. The firm earned $275.77 million during the quarter. Actuant Corp. had a positive return on equity of 13.22% and a negative net margin of 9.15%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $0.37 earnings per share.
A number of other research analysts also recently issued reports on ATU. BMO Capital Markets restated a “hold” rating on shares of Actuant Corp. in a report on Saturday. Zacks Investment Research downgraded Actuant Corp. from a “hold” rating to a “sell” rating in a report on Friday, September 2nd. Royal Bank Of Canada reduced their price target on Actuant Corp. from $30.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, June 23rd. JPMorgan Chase & Co. downgraded Actuant Corp. from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $25.00 to $20.00 in a report on Wednesday, June 22nd. Finally, TheStreet downgraded Actuant Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $23.78.
Shares of Actuant Corp. (NYSE:ATU) opened at 23.45 on Monday. The stock has a 50 day moving average price of $23.24 and a 200 day moving average price of $24.53. The stock’s market capitalization is $1.38 billion. Actuant Corp. has a 52 week low of $20.49 and a 52 week high of $27.71.
A number of institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors L.L.C. acquired a new position in Actuant Corp. during the first quarter valued at about $395,000. Virginia Retirement System acquired a new position in Actuant Corp. during the first quarter valued at about $1,248,000. Prudential Financial Inc. boosted its position in Actuant Corp. by 1.8% in the first quarter. Prudential Financial Inc. now owns 140,932 shares of the company’s stock valued at $3,482,000 after buying an additional 2,500 shares during the period. Connable Office Inc. boosted its position in Actuant Corp. by 0.8% in the first quarter. Connable Office Inc. now owns 8,575 shares of the company’s stock valued at $212,000 after buying an additional 70 shares during the period. Finally, BlackRock Inc. boosted its position in Actuant Corp. by 142.8% in the first quarter. BlackRock Inc. now owns 4,666 shares of the company’s stock valued at $115,000 after buying an additional 2,744 shares during the period.
In related news, CEO Randal W. Baker purchased 10,795 shares of the company’s stock in a transaction dated Monday, July 11th. The shares were purchased at an average cost of $23.14 per share, with a total value of $249,796.30. Following the transaction, the chief executive officer now directly owns 63,979 shares in the company, valued at approximately $1,480,474.06. The purchase was disclosed in a document filed with the SEC, which is available through this link. 3.90% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.68%. Actuant Corp.’s dividend payout ratio is currently -2.23%.
About Actuant Corp.
Actuant Corporation is a global diversified company that designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company is organized into three operating segments: Industrial, Energy and Engineered Solutions. The Industrial segment is 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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