Zacks: Analysts Anticipate ITT Inc. (ITT) Will Announce Earnings of $0.59 Per Share
Analysts forecast that ITT Inc. (NYSE:ITT) will post earnings per share of $0.59 for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for ITT’s earnings, with estimates ranging from $0.57 to $0.61. ITT reported earnings of $0.48 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.9%. The firm is expected to report its next earnings report on Tuesday, February 13th.
According to Zacks, analysts expect that ITT will report full year earnings of $2.52 per share for the current financial year, with EPS estimates ranging from $2.45 to $2.55. For the next financial year, analysts forecast that the business will post earnings of $2.98 per share, with EPS estimates ranging from $2.77 to $3.10. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for ITT.
ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, November 2nd. The company reported C$0.66 EPS for the quarter, beating the consensus estimate of C$0.61 by C$0.05. ITT had a net margin of 8.29% and a return on equity of 14.12%. The company had revenue of C$645.00 million for the quarter, compared to analyst estimates of C$605.06 million. During the same quarter last year, the business earned $0.58 earnings per share. ITT’s revenue was up 10.9% compared to the same quarter last year.
A number of research firms recently commented on ITT. Robert W. Baird reiterated an “outperform” rating and set a $60.00 price objective (up previously from $51.00) on shares of ITT in a research note on Thursday, November 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $49.00 price objective on shares of ITT in a research note on Wednesday, August 16th. Zacks Investment Research upgraded shares of ITT from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Thursday, October 12th. BidaskClub lowered shares of ITT from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, ValuEngine lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of C$50.44.
Shares of ITT (NYSE ITT) opened at C$51.02 on Monday. ITT has a 12 month low of C$36.93 and a 12 month high of C$53.00. The company has a market cap of $4,489.76, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 1.34 and a beta of 1.53.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be given a $0.128 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.51 annualized dividend and a yield of 1.00%. ITT’s dividend payout ratio (DPR) is 21.89%.
In other ITT news, insider Mary Elizabeth Gustafsson sold 5,000 shares of ITT stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of C$42.90, for a total value of C$214,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its stake in ITT by 95.3% in the 3rd quarter. Wells Fargo & Company MN now owns 823,781 shares of the company’s stock worth $36,468,000 after purchasing an additional 401,902 shares during the period. Paradice Investment Management LLC boosted its stake in ITT by 2.9% in the 3rd quarter. Paradice Investment Management LLC now owns 1,574,946 shares of the company’s stock worth $69,723,000 after purchasing an additional 44,212 shares during the period. Twin Capital Management Inc. boosted its stake in ITT by 15.9% in the 3rd quarter. Twin Capital Management Inc. now owns 83,590 shares of the company’s stock worth $3,701,000 after purchasing an additional 11,440 shares during the period. Picton Mahoney Asset Management acquired a new position in ITT in the 3rd quarter worth approximately $1,661,000. Finally, Nuance Investments LLC boosted its stake in ITT by 12.9% in the 3rd quarter. Nuance Investments LLC now owns 169,580 shares of the company’s stock worth $7,507,000 after purchasing an additional 19,374 shares during the period. 92.38% of the stock is owned by hedge funds and other institutional investors.
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ITT Company Profile
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in four segments: Industrial Process, Motion Technologies, Interconnect Solutions, and Control Technologies. The Industrial Process segment manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.
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