nVent Electric (NYSE:NVT) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.80-1.90 for the period, compared to the Thomson Reuters consensus estimate of $1.87. The company issued revenue guidance of $2.2136-2.280008 billion, compared to the consensus revenue estimate of $2.27 billion.nVent Electric also updated its FY19 guidance to $1.80 to $1.90 EPS.
nVent Electric stock traded down $0.14 during mid-day trading on Friday, hitting $27.47. 1,499,348 shares of the company were exchanged, compared to its average volume of 1,031,178. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.83. The company has a market capitalization of $4.90 billion and a price-to-earnings ratio of 15.79. nVent Electric has a 12-month low of $19.71 and a 12-month high of $29.84.
nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $538.00 million during the quarter, compared to the consensus estimate of $546.43 million. nVent Electric had a return on equity of 10.08% and a net margin of 10.43%. The business’s revenue was down .2% compared to the same quarter last year. On average, analysts forecast that nVent Electric will post 1.88 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on NVT shares. Vertical Research upgraded nVent Electric from a hold rating to a buy rating in a report on Wednesday, January 2nd. Zacks Investment Research upgraded nVent Electric from a sell rating to a hold rating in a report on Tuesday, April 2nd. KeyCorp restated a buy rating and set a $30.00 price objective (up previously from $29.00) on shares of nVent Electric in a report on Wednesday, February 27th. ValuEngine cut nVent Electric from a hold rating to a sell rating in a report on Monday, April 1st. Finally, Buckingham Research started coverage on nVent Electric in a report on Tuesday, March 26th. They set a buy rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $29.00.
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About nVent Electric
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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