Analysts Anticipate ITT Inc. (NYSE:ITT) Will Post Earnings of $0.97 Per Share

Equities analysts expect ITT Inc. (NYSE:ITTGet Rating) to report earnings of $0.97 per share for the current quarter, according to Zacks. Four analysts have made estimates for ITT’s earnings. The lowest EPS estimate is $0.96 and the highest is $0.99. ITT reported earnings of $0.94 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 3.2%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that ITT will report full year earnings of $4.42 per share for the current year, with EPS estimates ranging from $4.35 to $4.57. For the next year, analysts expect that the business will post earnings of $5.15 per share, with EPS estimates ranging from $5.05 to $5.30. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for ITT.

ITT (NYSE:ITTGet Rating) last issued its earnings results on Tuesday, May 3rd. The conglomerate reported $0.97 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.97. The firm had revenue of $726.20 million during the quarter, compared to analyst estimates of $695.93 million. ITT had a net margin of 10.92% and a return on equity of 15.90%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned $1.06 earnings per share.

Several research firms have recently weighed in on ITT. Oppenheimer cut shares of ITT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 28th. KeyCorp cut their price target on shares of ITT from $113.00 to $100.00 in a report on Wednesday, May 4th. Robert W. Baird reduced their target price on ITT from $90.00 to $84.00 in a research note on Wednesday, May 4th. UBS Group raised ITT from a “neutral” rating to a “buy” rating and cut their price objective for the company from $107.00 to $95.00 in a research report on Friday, April 8th. Finally, Citigroup reduced their target price on shares of ITT from $124.00 to $112.00 in a research report on Friday, February 11th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $103.36.

ITT stock traded up $2.30 during midday trading on Thursday, reaching $71.44. 19,615 shares of the stock were exchanged, compared to its average volume of 676,915. The firm has a market cap of $5.97 billion, a PE ratio of 20.19, a PEG ratio of 1.23 and a beta of 1.51. ITT has a 52 week low of $67.16 and a 52 week high of $105.54. The company’s fifty day moving average is $73.42 and its 200-day moving average is $87.41.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Friday, June 17th will be given a dividend of $0.264 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Thursday, June 16th. ITT’s payout ratio is 29.94%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in ITT by 426.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,422 shares of the conglomerate’s stock worth $107,000 after acquiring an additional 1,152 shares during the period. Neuberger Berman Group LLC lifted its stake in ITT by 45.0% during the 1st quarter. Neuberger Berman Group LLC now owns 397,364 shares of the conglomerate’s stock valued at $29,886,000 after acquiring an additional 123,247 shares during the period. Capital International Sarl increased its stake in shares of ITT by 36.3% in the first quarter. Capital International Sarl now owns 78,360 shares of the conglomerate’s stock worth $5,893,000 after acquiring an additional 20,879 shares during the period. Capital International Ltd. CA purchased a new position in shares of ITT during the first quarter worth $1,484,000. Finally, Capital Group International Inc. CA lifted its position in ITT by 1,278.7% during the first quarter. Capital Group International Inc. CA now owns 27,078 shares of the conglomerate’s stock valued at $2,037,000 after purchasing an additional 25,114 shares during the period. 95.64% of the stock is currently owned by hedge funds and other institutional investors.

About ITT (Get Rating)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.

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