Brokerages predict that ITT Inc. (NYSE:ITT) will announce sales of $606.91 million for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for ITT’s earnings, with the lowest sales estimate coming in at $599.00 million and the highest estimate coming in at $626.25 million. ITT reported sales of $581.70 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.3%. The company is expected to announce its next quarterly earnings report on Friday, November 3rd.
On average, analysts expect that ITT will report full-year sales of $606.91 million for the current fiscal year, with estimates ranging from $2.46 billion to $2.49 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.62 billion per share, with estimates ranging from $2.57 billion to $2.68 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow ITT.
ITT (NYSE:ITT) last issued its earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. ITT had a return on equity of 14.17% and a net margin of 8.64%. The firm had revenue of $630.90 million for the quarter, compared to analysts’ expectations of $628.65 million. During the same quarter last year, the firm earned $0.67 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year.
A number of equities analysts have recently weighed in on ITT shares. BidaskClub raised shares of ITT from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, July 18th. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Goldman Sachs Group, Inc. (The) downgraded shares of ITT from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $46.00 to $43.00 in a research note on Tuesday, June 6th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $49.00 price target on shares of ITT in a research note on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.29.
A number of institutional investors have recently bought and sold shares of the business. World Asset Management Inc increased its position in ITT by 0.3% during the first quarter. World Asset Management Inc now owns 5,487 shares of the conglomerate’s stock worth $225,000 after buying an additional 19 shares during the last quarter. United Capital Financial Advisers LLC increased its position in ITT by 0.6% during the first quarter. United Capital Financial Advisers LLC now owns 6,600 shares of the conglomerate’s stock worth $271,000 after buying an additional 42 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in ITT by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,940 shares of the conglomerate’s stock worth $520,000 after buying an additional 56 shares during the last quarter. Stephens Inc. AR increased its position in ITT by 2.4% during the second quarter. Stephens Inc. AR now owns 5,532 shares of the conglomerate’s stock worth $222,000 after buying an additional 130 shares during the last quarter. Finally, Synovus Financial Corp increased its position in ITT by 2.6% during the second quarter. Synovus Financial Corp now owns 5,489 shares of the conglomerate’s stock worth $222,000 after buying an additional 138 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.
ITT (ITT) opened at 42.64 on Tuesday. ITT has a one year low of $32.46 and a one year high of $44.00. The company has a 50-day moving average price of $40.42 and a 200-day moving average price of $40.29. The firm has a market cap of $3.75 billion, a PE ratio of 18.26 and a beta of 1.46.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be given a dividend of $0.128 per share. This represents a $0.51 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, September 8th. ITT’s payout ratio is 21.70%.
ITT Company Profile
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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