$0.71 Earnings Per Share Expected for Applied Industrial Technologies, Inc. (AIT) This Quarter
Brokerages expect Applied Industrial Technologies, Inc. (NYSE:AIT) to post earnings per share (EPS) of $0.71 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Applied Industrial Technologies’ earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.69. Applied Industrial Technologies reported earnings per share of $0.61 during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.4%. The firm is expected to announce its next earnings report on Thursday, January 25th.
According to Zacks, analysts expect that Applied Industrial Technologies will report full-year earnings of $3.19 per share for the current financial year, with EPS estimates ranging from $3.17 to $3.20. For the next year, analysts expect that the company will post earnings of $3.43 per share, with EPS estimates ranging from $3.40 to $3.50. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Applied Industrial Technologies.
Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.10. The firm had revenue of $680.70 million during the quarter, compared to analyst estimates of $668.18 million. Applied Industrial Technologies had a net margin of 5.29% and a return on equity of 16.25%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 EPS.
Several equities analysts recently weighed in on AIT shares. Zacks Investment Research upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Monday, August 14th. ValuEngine upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $66.00.
Applied Industrial Technologies (NYSE:AIT) traded down $0.65 on Friday, reaching $64.05. 294,100 shares of the company traded hands, compared to its average volume of 194,047. The company has a market capitalization of $2,511.34, a price-to-earnings ratio of 21.57, a P/E/G ratio of 1.69 and a beta of 0.93. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.83 and a current ratio of 3.13. Applied Industrial Technologies has a one year low of $54.00 and a one year high of $70.05.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Wednesday, November 15th were given a dividend of $0.29 per share. The ex-dividend date was Tuesday, November 14th. This represents a $1.16 annualized dividend and a yield of 1.81%. Applied Industrial Technologies’s payout ratio is currently 32.58%.
A number of institutional investors and hedge funds have recently bought and sold shares of AIT. Teachers Advisors LLC grew its position in Applied Industrial Technologies by 5.6% during the first quarter. Teachers Advisors LLC now owns 63,677 shares of the industrial products company’s stock valued at $3,938,000 after buying an additional 3,349 shares during the period. Aperio Group LLC lifted its holdings in Applied Industrial Technologies by 11.9% during the second quarter. Aperio Group LLC now owns 11,885 shares of the industrial products company’s stock valued at $702,000 after purchasing an additional 1,266 shares during the last quarter. Strs Ohio lifted its holdings in Applied Industrial Technologies by 6.1% during the second quarter. Strs Ohio now owns 20,900 shares of the industrial products company’s stock valued at $1,234,000 after purchasing an additional 1,200 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in Applied Industrial Technologies by 57.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 13,990 shares of the industrial products company’s stock valued at $826,000 after purchasing an additional 5,080 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its holdings in Applied Industrial Technologies by 3.6% during the second quarter. Great West Life Assurance Co. Can now owns 56,257 shares of the industrial products company’s stock valued at $3,316,000 after purchasing an additional 1,958 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.
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About Applied Industrial Technologies
Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.
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