Equities analysts forecast that ITT Inc. (NYSE:ITT) will report earnings per share (EPS) of $0.59 for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for ITT’s earnings. The highest EPS estimate is $0.61 and the lowest is $0.57. ITT posted earnings of $0.48 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 22.9%. The firm is scheduled to announce its next earnings report on Tuesday, February 13th.
According to Zacks, analysts expect that ITT will report full-year earnings of $2.52 per share for the current fiscal year, with EPS estimates ranging from $2.45 to $2.55. For the next year, analysts anticipate that the firm will post earnings of $2.98 per share, with EPS estimates ranging from $2.77 to $3.10. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that that provide coverage for ITT.
ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, November 2nd. The company reported C$0.66 EPS for the quarter, topping analysts’ consensus estimates of C$0.61 by C$0.05. ITT had a return on equity of 14.12% and a net margin of 8.29%. The company had revenue of C$645.00 million during the quarter, compared to analyst estimates of C$605.06 million. During the same quarter last year, the firm posted $0.58 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis.
ITT has been the subject of several analyst reports. Zacks Investment Research upgraded ITT from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Tuesday, July 18th. BidaskClub downgraded ITT from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Stifel Nicolaus restated a “buy” rating and set a $49.00 price target on shares of ITT in a report on Wednesday, August 16th. ValuEngine downgraded ITT from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Cowen and Company restated a “buy” rating and set a $50.00 price target on shares of ITT in a research note on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company’s stock. ITT currently has a consensus rating of “Buy” and an average price target of C$50.44.
In other ITT news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of C$42.90, for a total value of C$214,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ITT. Janus Henderson Group PLC purchased a new stake in ITT in the second quarter valued at about $122,628,000. Wedge Capital Management L L P NC purchased a new stake in ITT in the second quarter valued at about $27,785,000. LSV Asset Management increased its holdings in shares of ITT by 57.1% in the second quarter. LSV Asset Management now owns 1,614,577 shares of the company’s stock valued at $64,873,000 after purchasing an additional 587,000 shares during the period. Channing Capital Management LLC increased its holdings in shares of ITT by 271.6% in the second quarter. Channing Capital Management LLC now owns 564,125 shares of the company’s stock valued at $22,667,000 after purchasing an additional 412,332 shares during the period. Finally, Macquarie Group Ltd. increased its holdings in shares of ITT by 18.5% in the third quarter. Macquarie Group Ltd. now owns 2,615,074 shares of the company’s stock valued at $115,769,000 after purchasing an additional 407,746 shares during the period. Institutional investors own 92.38% of the company’s stock.
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ITT (NYSE:ITT) opened at C$51.02 on Monday. The company has a market capitalization of $4,489.76, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 1.34 and a beta of 1.53. ITT has a 52-week low of C$36.93 and a 52-week high of C$53.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be given a $0.128 dividend. This represents a $0.51 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, December 7th. ITT’s dividend payout ratio (DPR) is presently 21.89%.
ITT Company Profile
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in four segments: Industrial Process, Motion Technologies, Interconnect Solutions, and Control Technologies. The Industrial Process segment manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.
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