$678.44 Million in Sales Expected for ITT Inc (ITT) This Quarter

Equities research analysts forecast that ITT Inc (NYSE:ITT) will announce sales of $678.44 million for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for ITT’s earnings, with the highest sales estimate coming in at $689.00 million and the lowest estimate coming in at $668.00 million. ITT posted sales of $689.30 million in the same quarter last year, which would suggest a negative year over year growth rate of 1.6%. The company is expected to announce its next earnings report on Friday, May 3rd.

On average, analysts expect that ITT will report full-year sales of $2.83 billion for the current fiscal year, with estimates ranging from $2.81 billion to $2.85 billion. For the next year, analysts expect that the business will report sales of $2.97 billion, with estimates ranging from $2.93 billion to $3.01 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow ITT.

ITT (NYSE:ITT) last issued its earnings results on Friday, February 22nd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.08. The company had revenue of $678.40 million during the quarter, compared to the consensus estimate of $700.53 million. ITT had a net margin of 12.16% and a return on equity of 16.50%. ITT’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS.

Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Monday, December 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $66.00 target price on shares of ITT in a report on Friday, February 22nd. Finally, Oppenheimer set a $68.00 target price on shares of ITT and gave the stock a “buy” rating in a report on Thursday, January 10th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $65.13.

ITT stock traded up $1.20 during mid-day trading on Monday, hitting $58.80. The stock had a trading volume of 684,966 shares, compared to its average volume of 528,257. The company has a market capitalization of $5.03 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.63 and a beta of 1.64. ITT has a one year low of $44.89 and a one year high of $63.04.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be issued a $0.147 dividend. The ex-dividend date is Friday, March 8th. This represents a $0.59 annualized dividend and a yield of 1.00%. This is an increase from ITT’s previous quarterly dividend of $0.13. ITT’s dividend payout ratio is currently 18.27%.

A number of hedge funds have recently made changes to their positions in ITT. Aperio Group LLC lifted its stake in ITT by 10.0% in the 3rd quarter. Aperio Group LLC now owns 18,900 shares of the conglomerate’s stock worth $1,158,000 after purchasing an additional 1,722 shares in the last quarter. First Trust Advisors LP lifted its stake in ITT by 951.9% in the 3rd quarter. First Trust Advisors LP now owns 135,450 shares of the conglomerate’s stock worth $8,298,000 after purchasing an additional 122,573 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new stake in ITT in the 3rd quarter worth $176,000. Meeder Asset Management Inc. purchased a new stake in ITT in the 3rd quarter worth $128,000. Finally, CIBC Asset Management Inc purchased a new stake in ITT in the 3rd quarter worth $206,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

About ITT

ITT, Inc engages in the provision of engineering and technology. Its activities include manufacture and sale of engineered components and customized technology solutions in the field of energy, transportation, and industrial markets. It operates through the following segments: Industrial Process, Motion Technologies, Interconnect Solutions, and Control Technologies.

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Earnings History and Estimates for ITT (NYSE:ITT)

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