ITT Inc. (NYSE:ITT) – Investment analysts at William Blair reduced their Q1 2018 EPS estimates for shares of ITT in a research report issued to clients and investors on Tuesday. William Blair analyst N. Heymann now anticipates that the conglomerate will post earnings per share of $0.73 for the quarter, down from their previous estimate of $0.74. William Blair also issued estimates for ITT’s Q2 2018 earnings at $0.79 EPS, Q3 2018 earnings at $0.80 EPS, Q4 2018 earnings at $0.73 EPS and FY2018 earnings at $3.05 EPS.
ITT (NYSE:ITT) last issued its quarterly earnings results on Friday, February 16th. The conglomerate reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. ITT had a return on equity of 14.65% and a net margin of 4.39%. The firm had revenue of $683.60 million for the quarter, compared to analyst estimates of $635.71 million. During the same period last year, the company earned $0.48 EPS. The firm’s quarterly revenue was up 16.2% on a year-over-year basis.
A number of other analysts have also issued reports on ITT. Stifel Nicolaus reissued a “buy” rating and issued a $62.00 price target (down from $63.00) on shares of ITT in a research note on Tuesday. Zacks Investment Research raised ITT from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Monday, January 8th. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Oppenheimer restated a “buy” rating and issued a $60.00 price objective on shares of ITT in a report on Thursday, January 18th. Finally, UBS Group started coverage on ITT in a report on Tuesday, January 23rd. They issued a “sell” rating and a $55.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. ITT currently has a consensus rating of “Buy” and a consensus target price of $55.88.
Shares of ITT (NYSE:ITT) opened at $52.50 on Wednesday. ITT has a 52 week low of $36.93 and a 52 week high of $57.62. The stock has a market capitalization of $4,633.15, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.37 and a beta of 1.54.
Several large investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. raised its holdings in shares of ITT by 17.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,120 shares of the conglomerate’s stock valued at $246,000 after buying an additional 914 shares during the period. Amalgamated Bank raised its holdings in shares of ITT by 6.0% during the 4th quarter. Amalgamated Bank now owns 17,939 shares of the conglomerate’s stock valued at $957,000 after buying an additional 1,018 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of ITT by 2.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 49,605 shares of the conglomerate’s stock valued at $2,196,000 after buying an additional 1,166 shares during the period. Cubic Asset Management LLC grew its stake in ITT by 2.7% during the 3rd quarter. Cubic Asset Management LLC now owns 46,097 shares of the conglomerate’s stock valued at $2,041,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in ITT by 1.2% during the 4th quarter. Bank of Montreal Can now owns 102,554 shares of the conglomerate’s stock valued at $5,473,000 after purchasing an additional 1,210 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.
ITT announced that its Board of Directors has authorized a share repurchase plan on Friday, February 16th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the conglomerate to reacquire shares of its stock through open market purchases. Stock buyback plans 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. Investors of record on Monday, March 12th will be issued a dividend of $0.134 per share. This is an increase from ITT’s previous quarterly dividend of $0.13. This represents a $0.54 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, March 9th. ITT’s dividend payout ratio (DPR) is presently 39.84%.
WARNING: This piece of content was reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this piece of content on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.thelincolnianonline.com/2018/02/23/q1-2018-eps-estimates-for-itt-inc-itt-cut-by-analyst.html.
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.
Receive News & Ratings for ITT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT and related companies with MarketBeat.com's FREE daily email newsletter.