Equities analysts expect that ITT Inc. (NYSE:ITT) will announce $678.30 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for ITT’s earnings. The lowest sales estimate is $646.00 million and the highest is $703.50 million. ITT reported sales of $625.80 million during the same quarter last year, which would suggest a positive year over year growth rate of 8.4%. The company is expected to announce its next earnings report on Monday, May 14th.
According to Zacks, analysts expect that ITT will report full-year sales of $678.30 million for the current financial year, with estimates ranging from $2.72 billion to $2.83 billion. For the next financial year, analysts forecast that the firm will post sales of $2.92 billion per share, with estimates ranging from $2.88 billion to $2.94 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow ITT.
ITT (NYSE:ITT) last issued its earnings results on Friday, February 16th. The conglomerate reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. The firm had revenue of $683.60 million during the quarter, compared to analysts’ expectations of $635.71 million. ITT had a net margin of 4.39% and a return on equity of 14.65%. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share.
A number of hedge funds have recently added to or reduced their stakes in ITT. Stevens First Principles Investment Advisors purchased a new stake in ITT in the 3rd quarter worth approximately $137,000. Huntington National Bank purchased a new stake in ITT in the 3rd quarter worth approximately $191,000. Creative Planning purchased a new stake in ITT in the 4th quarter worth approximately $205,000. Alps Advisors Inc. purchased a new stake in ITT in the 4th quarter worth approximately $209,000. Finally, AXA purchased a new stake in ITT in the 4th quarter worth approximately $219,000. Institutional investors own 97.01% of the company’s stock.
ITT (NYSE ITT) traded up $0.35 during trading on Friday, reaching $53.02. 95,798 shares of the company were exchanged, compared to its average volume of 635,641. ITT has a 1 year low of $36.93 and a 1 year high of $57.62. The firm has a market cap of $4,645.49, a price-to-earnings ratio of 41.15, a price-to-earnings-growth ratio of 1.37 and a beta of 1.54.
ITT announced that its board has initiated a share repurchase program on Friday, February 16th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the conglomerate to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 12th will be given a $0.134 dividend. This is an increase from ITT’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, March 9th. This represents a $0.54 dividend on an annualized basis and a yield of 1.01%. ITT’s dividend payout ratio is presently 39.84%.
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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