Zacks: Brokerages Anticipate ITT Inc (NYSE:ITT) Will Post Quarterly Sales of $715.22 Million
Equities research analysts expect ITT Inc (NYSE:ITT) to post sales of $715.22 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for ITT’s earnings. The highest sales estimate is $736.00 million and the lowest is $705.70 million. ITT posted sales of $680.60 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.1%. The firm is scheduled to announce its next earnings report on Friday, November 1st.
On average, analysts expect that ITT will report full year sales of $2.85 billion for the current year, with estimates ranging from $2.83 billion to $2.88 billion. For the next financial year, analysts anticipate that the business will report sales of $3.00 billion, with estimates ranging from $2.95 billion to $3.05 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover ITT.
ITT (NYSE:ITT) last announced its earnings results on Friday, August 2nd. The conglomerate reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.04. The company had revenue of $719.90 million during the quarter, compared to the consensus estimate of $703.80 million. ITT had a net margin of 10.85% and a return on equity of 16.68%. During the same period last year, the firm earned $0.82 earnings per share.
Several large investors have recently bought and sold shares of ITT. Nuveen Asset Management LLC acquired a new stake in shares of ITT during the second quarter worth $134,658,000. Invesco Ltd. lifted its stake in shares of ITT by 34.3% during the second quarter. Invesco Ltd. now owns 2,235,613 shares of the conglomerate’s stock worth $146,389,000 after buying an additional 570,860 shares during the period. Carlson Capital L P acquired a new stake in shares of ITT during the second quarter worth $32,740,000. FMR LLC lifted its stake in shares of ITT by 7.5% during the first quarter. FMR LLC now owns 6,606,274 shares of the conglomerate’s stock worth $383,164,000 after buying an additional 458,175 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of ITT by 25.5% during the second quarter. AQR Capital Management LLC now owns 1,768,355 shares of the conglomerate’s stock worth $114,006,000 after buying an additional 358,990 shares during the period. Institutional investors and hedge funds own 89.56% of the company’s stock.
ITT traded up $0.27 during trading on Monday, hitting $61.96. The stock had a trading volume of 666,325 shares, compared to its average volume of 535,465. The company has a market capitalization of $5.37 billion, a PE ratio of 19.18, a PEG ratio of 1.72 and a beta of 1.60. ITT has a twelve month low of $44.89 and a twelve month high of $66.88. The stock has a 50 day simple moving average of $58.13 and a two-hundred day simple moving average of $60.18.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.147 per share. The ex-dividend date is Monday, September 9th. This represents a $0.59 annualized dividend and a dividend yield of 0.95%. ITT’s payout ratio is currently 18.27%.
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.
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