Brokerages Expect ITT Inc (ITT) Will Announce Earnings of $0.89 Per Share

Analysts predict that ITT Inc (NYSE:ITT) will announce earnings per share (EPS) of $0.89 for the current quarter, Zacks reports. Seven analysts have made estimates for ITT’s earnings. The lowest EPS estimate is $0.87 and the highest is $0.90. ITT reported earnings of $0.82 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.5%. The firm is scheduled to announce its next quarterly earnings results on Friday, August 2nd.

According to Zacks, analysts expect that ITT will report full-year earnings of $3.60 per share for the current fiscal year, with EPS estimates ranging from $3.55 to $3.65. For the next year, analysts forecast that the company will post earnings of $3.98 per share, with EPS estimates ranging from $3.83 to $4.10. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow ITT.

ITT (NYSE:ITT) last released its quarterly earnings results on Friday, May 3rd. The conglomerate reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.07. The firm had revenue of $695.50 million for the quarter, compared to analyst estimates of $682.49 million. ITT had a net margin of 11.04% and a return on equity of 16.69%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share.

ITT has been the topic of a number of recent analyst reports. Oppenheimer set a $68.00 price target on shares of ITT and gave the company a “buy” rating in a research report on Wednesday, March 27th. UBS Group upgraded shares of ITT from a “sell” rating to a “neutral” rating and boosted their price target for the company from $48.00 to $60.00 in a research report on Thursday, February 28th. Zacks Investment Research upgraded shares of ITT from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus boosted their price target on shares of ITT from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $67.13.

NYSE:ITT traded up $0.86 on Thursday, reaching $59.97. The stock had a trading volume of 101,260 shares, compared to its average volume of 552,085. The firm has a market cap of $5.19 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.84 and a beta of 1.63. ITT has a 1-year low of $44.89 and a 1-year high of $63.54.

In other news, CFO Thomas M. Scalera sold 64,135 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.57, for a total transaction of $3,948,791.95. Following the transaction, the chief financial officer now directly owns 73,701 shares in the company, valued at $4,537,770.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Farrokh Batliwala sold 8,950 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.38, for a total transaction of $549,351.00. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Field & Main Bank acquired a new position in shares of ITT during the first quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of ITT by 235.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 496 shares of the conglomerate’s stock worth $29,000 after purchasing an additional 348 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of ITT by 4,727.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,673,955 shares of the conglomerate’s stock worth $35,000 after buying an additional 1,639,276 shares during the last quarter. Fort L.P. bought a new stake in shares of ITT during the first quarter worth approximately $47,000. Finally, Advisors Asset Management Inc. raised its stake in shares of ITT by 297.7% during the fourth quarter. Advisors Asset Management Inc. now owns 1,559 shares of the conglomerate’s stock worth $75,000 after buying an additional 1,167 shares during the last quarter. Institutional investors own 90.99% of the company’s stock.

ITT Company Profile

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.

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