Applied Industrial Technologies (AIT) Scheduled to Post Earnings on Thursday

Applied Industrial Technologies (NYSE:AIT) will release its earnings data before the market opens on Thursday, April 25th. Analysts expect Applied Industrial Technologies to post earnings of $2.40 per share for the quarter. Applied Industrial Technologies has set its FY24 guidance at $9.35-9.70 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, January 25th. The industrial products company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.13. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. Applied Industrial Technologies had a return on equity of 24.59% and a net margin of 8.39%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 EPS. On average, analysts expect Applied Industrial Technologies to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Applied Industrial Technologies Trading Up 1.5 %

Applied Industrial Technologies stock opened at $186.31 on Wednesday. Applied Industrial Technologies has a fifty-two week low of $122.24 and a fifty-two week high of $201.76. The firm’s fifty day moving average price is $190.24 and its 200-day moving average price is $175.21. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.59 and a current ratio of 3.74. The stock has a market cap of $7.20 billion, a P/E ratio of 19.55, a PEG ratio of 1.93 and a beta of 1.08.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.79%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.35. The ex-dividend date was Wednesday, February 14th. Applied Industrial Technologies’s dividend payout ratio is 15.53%.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 2,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $182.34, for a total value of $364,680.00. Following the completion of the sale, the vice president now directly owns 57,155 shares of the company’s stock, valued at $10,421,642.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AIT has been the topic of a number of research analyst reports. KeyCorp increased their price target on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Oppenheimer initiated coverage on Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price objective for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $201.00.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.