ITT Inc. (NYSE:ITT) Scheduled to Post Quarterly Earnings on Friday
ITT Inc. (NYSE:ITT) will be issuing its quarterly earnings data before the market opens on Friday, August 4th. Analysts expect the company to announce earnings of $0.63 per share for the quarter. ITT has set its FY17 guidance at $2.205-2.505 EPS.
ITT (NYSE:ITT) last posted its quarterly earnings results on Monday, May 8th. The conglomerate reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.04. ITT had a return on equity of 14.65% and a net margin of 8.04%. The company had revenue of $625.80 million during the quarter, compared to the consensus estimate of $607.08 million. During the same period last year, the business earned $0.59 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts expect ITT to post $2.43 EPS for the current fiscal year and $2.81 EPS for the next fiscal year.
Shares of ITT Inc. (ITT) opened at 41.48 on Friday. ITT Inc. has a 1-year low of $31.08 and a 1-year high of $44.00. The stock has a market capitalization of $3.68 billion, a P/E ratio of 19.12 and a beta of 1.47. The stock’s 50 day moving average price is $40.40 and its 200-day moving average price is $40.62.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Monday, June 12th were paid a $0.128 dividend. The ex-dividend date of this dividend was Thursday, June 8th. This represents a $0.51 dividend on an annualized basis and a yield of 1.23%. ITT’s payout ratio is 23.50%.
A number of research firms have issued reports on ITT. Zacks Investment Research cut ITT from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub cut ITT from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus upped their price objective on ITT from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. ValuEngine raised ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) cut ITT from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $46.00 to $43.00 in a research report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $46.57.
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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