Applied Industrial Technologies (AIT) to Release Earnings on Wednesday
Applied Industrial Technologies (NYSE:AIT) is set to post its quarterly earnings results before the market opens on Wednesday, October 31st. Analysts expect Applied Industrial Technologies to post earnings of $1.10 per share for the quarter. Applied Industrial Technologies has set its FY19 guidance at $4.48-4.68 EPS.
Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Friday, August 10th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.03. The business had revenue of $897.70 million during the quarter, compared to analyst estimates of $882.74 million. Applied Industrial Technologies had a return on equity of 18.34% and a net margin of 4.61%. Applied Industrial Technologies’s revenue for the quarter was up 135.3% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. On average, analysts expect Applied Industrial Technologies to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Shares of NYSE:AIT opened at $66.63 on Monday. The firm has a market cap of $2.58 billion, a P/E ratio of 17.82, a P/E/G ratio of 1.19 and a beta of 0.87. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.45 and a quick ratio of 1.47. Applied Industrial Technologies has a 12-month low of $59.65 and a 12-month high of $82.35.
Several research analysts recently issued reports on the company. Wells Fargo & Co raised their target price on Applied Industrial Technologies from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, August 13th. ValuEngine lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Zacks Investment Research lowered Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Wellington Shields raised Applied Industrial Technologies from a “gradually accumulate” rating to a “buy” rating in a research report on Monday, August 13th. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Applied Industrial Technologies in a research report on Friday, August 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $81.50.
About Applied Industrial Technologies
Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.
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