Analysts expect Altra Industrial Motion (NASDAQ:AIMC) to announce earnings of $0.61 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Altra Industrial Motion’s earnings, with the lowest EPS estimate coming in at $0.59 and the highest estimate coming in at $0.62. Altra Industrial Motion posted earnings of $0.53 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 15.1%. The business is scheduled to report its next earnings results before the market opens on Friday, April 27th.
According to Zacks, analysts expect that Altra Industrial Motion will report full year earnings of $2.43 per share for the current financial year, with EPS estimates ranging from $2.40 to $2.45. For the next financial year, analysts forecast that the firm will report earnings of $2.69 per share, with EPS estimates ranging from $2.68 to $2.70. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Altra Industrial Motion.
Altra Industrial Motion (NASDAQ:AIMC) last released its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Altra Industrial Motion had a net margin of 5.87% and a return on equity of 15.92%. The firm had revenue of $223.30 million during the quarter, compared to analysts’ expectations of $214.70 million. During the same period in the previous year, the firm posted $0.41 EPS. The firm’s quarterly revenue was up 29.4% on a year-over-year basis.
AIMC has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. ValuEngine cut shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. BidaskClub raised shares of Altra Industrial Motion from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $50.00 price objective (down previously from $54.00) on shares of Altra Industrial Motion in a report on Thursday, February 22nd. Finally, Stephens reaffirmed a “buy” rating and issued a $56.00 price objective (down previously from $58.00) on shares of Altra Industrial Motion in a report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $51.00.
AIMC traded up $0.10 on Wednesday, reaching $45.75. The stock had a trading volume of 116,633 shares, compared to its average volume of 178,150. Altra Industrial Motion has a 12-month low of $37.00 and a 12-month high of $53.70. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.49 and a current ratio of 2.51. The stock has a market capitalization of $1,338.41, a price-to-earnings ratio of 22.32 and a beta of 1.64.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Monday, March 19th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, March 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.49%. Altra Industrial Motion’s dividend payout ratio is currently 33.17%.
Several hedge funds have recently added to or reduced their stakes in AIMC. Bank of New York Mellon Corp increased its stake in shares of Altra Industrial Motion by 13.7% during the third quarter. Bank of New York Mellon Corp now owns 246,582 shares of the industrial products company’s stock worth $11,860,000 after purchasing an additional 29,706 shares in the last quarter. American International Group Inc. increased its stake in shares of Altra Industrial Motion by 8.1% during the third quarter. American International Group Inc. now owns 19,223 shares of the industrial products company’s stock worth $925,000 after purchasing an additional 1,438 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Altra Industrial Motion by 3.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 175,558 shares of the industrial products company’s stock worth $8,445,000 after purchasing an additional 5,914 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Altra Industrial Motion during the third quarter worth about $384,000. Finally, California Public Employees Retirement System increased its stake in shares of Altra Industrial Motion by 3.3% during the third quarter. California Public Employees Retirement System now owns 54,442 shares of the industrial products company’s stock worth $2,619,000 after purchasing an additional 1,742 shares in the last quarter. 98.30% of the stock is owned by institutional investors and hedge funds.
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Altra Industrial Motion Company Profile
Altra Industrial Motion Corp. designs, produces, and markets mechanical power transmission components worldwide. The company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes; and Gearing. It offers coupling products under the Ameridrives, Bibby, Lamiflex, TB Wood's, Huco Dynatork, Guardian, and Stromag brands for food processing, oil and gas, power generation, material handling, medical, metals, mining, and mobile off-highway markets; and heavy duty clutches and brakes under the Wichita Clutch, Twiflex, Industrial Clutch, Svendborg Brakes, and Stromag brands for use in metal forming, oil and gas drilling platforms, mining, material handling, marine, and wind turbine applications.
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