Analysts Anticipate Applied Industrial Technologies (AIT) Will Post Earnings of $0.71 Per Share
Wall Street brokerages forecast that Applied Industrial Technologies (NYSE:AIT) will report $0.71 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Applied Industrial Technologies’ earnings. The lowest EPS estimate is $0.69 and the highest is $0.73. Applied Industrial Technologies reported earnings per share of $0.61 in the same quarter last year, which suggests a positive year over year growth rate of 16.4%. The firm is scheduled to issue its next quarterly earnings results 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 fiscal year, with EPS estimates ranging from $3.17 to $3.20. For the next financial year, analysts expect that the firm will report earnings of $3.43 per share, with EPS estimates ranging from $3.40 to $3.50. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Applied Industrial Technologies.
Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.10. The firm had revenue of $680.70 million during the quarter, compared to analysts’ expectations of $668.18 million. Applied Industrial Technologies had a net margin of 5.29% and a return on equity of 16.25%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $0.70 earnings per share.
A number of research analysts have recently weighed in on AIT shares. Zacks Investment Research downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. ValuEngine upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $67.00.
Large investors have recently bought and sold shares of the stock. Riverhead Capital Management LLC lifted its holdings in Applied Industrial Technologies by 57.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,298 shares of the industrial products company’s stock valued at $195,000 after purchasing an additional 1,198 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Applied Industrial Technologies by 7.2% in the second quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock worth $199,000 after acquiring an additional 226 shares during the last quarter. Paradigm Asset Management Co. LLC raised its stake in shares of Applied Industrial Technologies by 59.1% in the second quarter. Paradigm Asset Management Co. LLC now owns 3,500 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 1,300 shares during the last quarter. Hartford Investment Management Co. bought a new position in shares of Applied Industrial Technologies in the third quarter worth about $207,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Applied Industrial Technologies in the third quarter worth about $212,000. Institutional investors and hedge funds own 87.89% of the company’s stock.
Applied Industrial Technologies (NYSE:AIT) traded up $0.25 during trading on Thursday, hitting $64.35. 99,899 shares of the stock were exchanged, compared to its average volume of 205,270. The company has a market cap of $2,510.00, a P/E ratio of 18.08, a P/E/G ratio of 1.67 and a beta of 0.93. The company has a quick ratio of 1.83, a current ratio of 3.13 and a debt-to-equity ratio of 0.37. Applied Industrial Technologies has a fifty-two week low of $54.00 and a fifty-two week high of $70.05.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Wednesday, November 15th were paid a $0.29 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.80%. Applied Industrial Technologies’s payout ratio is presently 32.58%.
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Applied Industrial Technologies Company Profile
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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