$718.45 Million in Sales Expected for ITT Inc. (NYSE:ITT) This Quarter

Wall Street brokerages expect that ITT Inc. (NYSE:ITTGet Rating) will post $718.45 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for ITT’s earnings. The lowest sales estimate is $707.00 million and the highest is $728.00 million. ITT reported sales of $691.60 million during the same quarter last year, which indicates a positive year over year growth rate of 3.9%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that ITT will report full year sales of $3.00 billion for the current financial year, with estimates ranging from $2.97 billion to $3.02 billion. For the next fiscal year, analysts expect that the firm will report sales of $3.29 billion, with estimates ranging from $3.22 billion to $3.34 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover ITT.

ITT (NYSE:ITTGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The conglomerate reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. The company had revenue of $726.20 million during the quarter, compared to analyst estimates of $695.93 million. ITT had a return on equity of 15.90% and a net margin of 10.92%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 earnings per share.

Several research firms recently commented on ITT. KeyCorp dropped their price objective on ITT from $113.00 to $100.00 in a research report on Wednesday, May 4th. StockNews.com initiated coverage on ITT in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Oppenheimer cut ITT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 28th. The Goldman Sachs Group lowered their price objective on ITT from $109.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, April 7th. Finally, Citigroup decreased their target price on ITT from $124.00 to $112.00 in a research note on Friday, February 11th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $103.36.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in ITT in the first quarter valued at about $26,000. National Bank of Canada FI purchased a new position in shares of ITT during the fourth quarter worth approximately $28,000. EverSource Wealth Advisors LLC acquired a new stake in shares of ITT during the fourth quarter worth $28,000. KB Financial Partners LLC acquired a new stake in shares of ITT during the fourth quarter worth $36,000. Finally, Parkside Investments LLC acquired a new stake in ITT in the first quarter valued at $37,000. Institutional investors and hedge funds own 95.64% of the company’s stock.

Shares of NYSE:ITT opened at $72.99 on Friday. ITT has a 1-year low of $67.16 and a 1-year high of $105.54. The business has a fifty day moving average price of $73.05 and a 200-day moving average price of $86.97. The company has a market capitalization of $6.09 billion, a PE ratio of 20.62, a PEG ratio of 1.23 and a beta of 1.51.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Friday, June 17th will be given a dividend of $0.264 per share. The ex-dividend date is Thursday, June 16th. This represents a $1.06 dividend on an annualized basis and a yield of 1.45%. ITT’s dividend payout ratio is currently 29.94%.

ITT Company Profile (Get Rating)

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

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Earnings History and Estimates for ITT (NYSE:ITT)

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