Zacks: Brokerages Anticipate Actuant Co. (ATU) Will Post Earnings of $0.35 Per Share

Equities analysts expect Actuant Co. (NYSE:ATU) to report earnings of $0.35 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Actuant’s earnings, with the highest EPS estimate coming in at $0.37 and the lowest estimate coming in at $0.33. Actuant reported earnings of $0.19 per share during the same quarter last year, which would indicate a positive year over year growth rate of 84.2%. The business is scheduled to issue its next quarterly earnings results on Wednesday, September 26th.

According to Zacks, analysts expect that Actuant will report full-year earnings of $1.06 per share for the current financial year, with EPS estimates ranging from $1.04 to $1.08. For the next year, analysts anticipate that the company will report earnings of $1.29 per share, with EPS estimates ranging from $1.23 to $1.35. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that follow Actuant.

Actuant (NYSE:ATU) last issued its quarterly earnings data on Wednesday, June 20th. The industrial products company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. Actuant had a positive return on equity of 9.86% and a negative net margin of 7.15%. The company had revenue of $317.10 million during the quarter, compared to analyst estimates of $306.83 million. During the same period in the prior year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year.

Several research firms have recently commented on ATU. TheStreet upgraded Actuant from a “c-” rating to a “b-” rating in a research report on Wednesday, June 20th. Zacks Investment Research upgraded shares of Actuant from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Friday, June 22nd. KeyCorp raised their target price on shares of Actuant from $27.00 to $32.50 and gave the stock an “overweight” rating in a report on Thursday, June 21st. Robert W. Baird raised their target price on shares of Actuant from $25.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, June 21st. Finally, SunTrust Banks raised their target price on shares of Actuant to $27.00 and gave the stock a “hold” rating in a report on Thursday, June 21st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.69.

Shares of Actuant traded down $0.05, hitting $28.20, during midday trading on Friday, according to Marketbeat Ratings. 235,700 shares of the stock were exchanged, compared to its average volume of 316,443. Actuant has a 52-week low of $21.50 and a 52-week high of $30.05. The firm has a market cap of $1.72 billion, a P/E ratio of 31.39, a P/E/G ratio of 1.70 and a beta of 1.41. The company has a quick ratio of 1.53, a current ratio of 2.08 and a debt-to-equity ratio of 0.85.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a $0.04 dividend. The ex-dividend date is Thursday, September 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.57%. Actuant’s payout ratio is presently 4.82%.

In related news, Director Alfredo Altavilla bought 3,000 shares of the company’s stock in a transaction on Wednesday, May 23rd. The stock was bought at an average cost of $24.80 per share, with a total value of $74,400.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at approximately $49,600. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Several large investors have recently modified their holdings of ATU. American Century Companies Inc. acquired a new stake in shares of Actuant during the 1st quarter worth approximately $25,729,000. BlackRock Inc. grew its holdings in Actuant by 9.6% during the second quarter. BlackRock Inc. now owns 8,446,063 shares of the industrial products company’s stock valued at $247,893,000 after purchasing an additional 741,931 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Actuant by 33.4% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,639,734 shares of the industrial products company’s stock valued at $61,374,000 after purchasing an additional 660,434 shares during the period. Summit Trail Advisors LLC grew its holdings in Actuant by 2,171.8% during the first quarter. Summit Trail Advisors LLC now owns 280,935 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 268,569 shares during the period. Finally, Jennison Associates LLC grew its holdings in Actuant by 16.0% during the second quarter. Jennison Associates LLC now owns 1,059,713 shares of the industrial products company’s stock valued at $31,103,000 after purchasing an additional 146,290 shares during the period.

Actuant Company Profile

Actuant Corporation designs, manufactures, and distributes a range of industrial products and systems worldwide. It operates through three segments: Industrial, Energy, and Engineered Solutions. The Industrial segment is primarily involved in the design, manufacture, and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure, and production automation markets under the Enerpac, Larzep, Milwaukee Cylinder, Precision-Hayes, and Simplex brand names.

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