ITT (NYSE:ITT) Issues FY 2019 Earnings Guidance

ITT (NYSE:ITT) issued an update on its FY 2019 earnings guidance on Friday morning. The company provided EPS guidance of $3.58-3.68 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.61. The company issued revenue guidance of $2.827453-2.882355 billion, compared to the consensus revenue estimate of $2.85 billion.ITT also updated its FY19 guidance to $3.58-3.68 EPS.

NYSE ITT traded down $1.42 on Friday, reaching $59.27. 863,427 shares of the stock traded hands, compared to its average volume of 470,992. The stock’s fifty day simple moving average is $63.99. The company has a market cap of $5.33 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 1.84 and a beta of 1.58. ITT has a 12 month low of $44.89 and a 12 month high of $66.88.

ITT (NYSE:ITT) last released its quarterly earnings results on Friday, August 2nd. The conglomerate reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.04. The firm had revenue of $719.90 million during the quarter, compared to analyst estimates of $703.80 million. ITT had a return on equity of 16.69% and a net margin of 11.04%. During the same period in the previous year, the company posted $0.82 EPS. As a group, analysts predict that ITT will post 3.61 EPS for the current fiscal year.

Several research analysts have recently commented on ITT shares. Oppenheimer set a $72.00 price target on ITT and gave the stock a buy rating in a research report on Friday, July 19th. ValuEngine lowered ITT from a buy rating to a hold rating in a research report on Thursday. Zacks Investment Research raised ITT from a hold rating to a buy rating and set a $65.00 price target for the company in a research report on Wednesday, June 12th. Finally, Stifel Nicolaus boosted their price target on ITT from $66.00 to $69.00 and gave the stock 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 issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $67.25.

In related news, CFO Thomas M. Scalera sold 64,135 shares of the business’s stock in a transaction on Monday, May 6th. The stock was 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 approximately $4,537,770.57. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Farrokh Batliwala sold 8,950 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.38, for a total value of $549,351.00. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

About ITT

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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Earnings History and Estimates for ITT (NYSE:ITT)

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