$477.70 Million in Sales Expected for Altra Industrial Motion Corp. (NASDAQ:AIMC) This Quarter

Equities analysts expect that Altra Industrial Motion Corp. (NASDAQ:AIMCGet Rating) will post $477.70 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Altra Industrial Motion’s earnings. The highest sales estimate is $480.00 million and the lowest is $475.40 million. Altra Industrial Motion reported sales of $488.60 million during the same quarter last year, which indicates a negative year-over-year growth rate of 2.2%. The firm is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Altra Industrial Motion will report full year sales of $1.89 billion for the current year. For the next fiscal year, analysts expect that the company will post sales of $1.98 billion, with estimates ranging from $1.97 billion to $1.99 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Altra Industrial Motion.

Altra Industrial Motion (NASDAQ:AIMCGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The industrial products company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.20. Altra Industrial Motion had a net margin of 1.72% and a return on equity of 10.54%. The firm had revenue of $511.70 million for the quarter, compared to analyst estimates of $490.00 million. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis.

AIMC has been the topic of a number of research reports. Robert W. Baird lifted their price target on shares of Altra Industrial Motion from $46.00 to $51.00 in a research note on Friday, April 29th. StockNews.com raised shares of Altra Industrial Motion from a “hold” rating to a “buy” rating in a research note on Friday, May 6th. Zacks Investment Research raised shares of Altra Industrial Motion from a “sell” rating to a “hold” rating and set a $37.00 price target on the stock in a research note on Tuesday, April 19th. Finally, TheStreet downgraded shares of Altra Industrial Motion from a “b-” rating to a “c” rating in a report on Wednesday, February 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $56.41.

Shares of AIMC opened at $37.59 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.15 and a current ratio of 2.90. Altra Industrial Motion has a twelve month low of $33.63 and a twelve month high of $67.80. The firm’s 50 day moving average price is $37.98 and its two-hundred day moving average price is $46.49. The firm has a market cap of $2.45 billion, a P/E ratio of 75.18, a PEG ratio of 0.75 and a beta of 2.13.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 6th. Stockholders of record on Friday, June 17th will be issued a $0.09 dividend. The ex-dividend date is Thursday, June 16th. This is an increase from Altra Industrial Motion’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.96%. Altra Industrial Motion’s dividend payout ratio (DPR) is 64.00%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in Altra Industrial Motion by 129.9% during the third quarter. First Horizon Advisors Inc. now owns 676 shares of the industrial products company’s stock worth $35,000 after buying an additional 382 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Altra Industrial Motion during the fourth quarter worth $49,000. Meeder Asset Management Inc. acquired a new position in Altra Industrial Motion during the first quarter worth $54,000. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Altra Industrial Motion by 45.1% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,274 shares of the industrial products company’s stock worth $66,000 after buying an additional 396 shares during the last quarter. Finally, Quent Capital LLC acquired a new position in Altra Industrial Motion during the first quarter worth $68,000.

About Altra Industrial Motion (Get Rating)

Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in various motion-related applications, and high-volume manufacturing and non-manufacturing processes. It operates in two segments, Power Transmission Technologies (PTT) and Automation & Specialty (A&S).

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