Oppenheimer Research Analysts Lower Earnings Estimates for Altra Industrial Motion Corp. (NASDAQ:AIMC)

Altra Industrial Motion Corp. (NASDAQ:AIMCGet Rating) – Analysts at Oppenheimer dropped their Q3 2022 earnings per share estimates for shares of Altra Industrial Motion in a research note issued to investors on Thursday, September 8th. Oppenheimer analyst B. Blair now anticipates that the industrial products company will earn $0.84 per share for the quarter, down from their prior estimate of $0.86. The consensus estimate for Altra Industrial Motion’s current full-year earnings is $3.29 per share. Oppenheimer also issued estimates for Altra Industrial Motion’s FY2022 earnings at $3.25 EPS and FY2023 earnings at $3.60 EPS.

Altra Industrial Motion (NASDAQ:AIMCGet Rating) last released its earnings results on Thursday, July 28th. The industrial products company reported $0.84 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.84. Altra Industrial Motion had a return on equity of 10.51% and a net margin of 0.96%. The company had revenue of $498.10 million during the quarter, compared to analyst estimates of $475.71 million. During the same quarter in the previous year, the company posted $0.89 EPS. Altra Industrial Motion’s revenue for the quarter was up 1.9% on a year-over-year basis.

AIMC has been the subject of a number of other research reports. Robert W. Baird boosted their target price on Altra Industrial Motion from $44.00 to $48.00 in a research note on Friday, July 29th. BMO Capital Markets upped their price target on Altra Industrial Motion from $45.00 to $50.00 in a research report on Friday, August 12th. StockNews.com raised Altra Industrial Motion from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 17th. Finally, Loop Capital began coverage on Altra Industrial Motion in a research report on Thursday, August 25th. They set a “buy” rating and a $58.00 price target for the company.

Altra Industrial Motion Trading Up 1.4 %

NASDAQ AIMC opened at $39.82 on Monday. Altra Industrial Motion has a 1-year low of $32.18 and a 1-year high of $62.25. The company has a current ratio of 2.32, a quick ratio of 1.45 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average of $39.05 and a 200-day moving average of $38.35. The firm has a market cap of $2.59 billion, a PE ratio of 142.21, a price-to-earnings-growth ratio of 0.81 and a beta of 2.07.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors raised its position in shares of Altra Industrial Motion by 11.4% in the 2nd quarter. Captrust Financial Advisors now owns 5,474 shares of the industrial products company’s stock worth $193,000 after acquiring an additional 558 shares in the last quarter. Eagle Bay Advisors LLC grew its stake in shares of Altra Industrial Motion by 82.8% in the 2nd quarter. Eagle Bay Advisors LLC now owns 1,426 shares of the industrial products company’s stock worth $50,000 after buying an additional 646 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Altra Industrial Motion by 7.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 333,649 shares of the industrial products company’s stock worth $11,762,000 after buying an additional 21,883 shares during the last quarter. First Republic Investment Management Inc. grew its stake in shares of Altra Industrial Motion by 0.6% in the 2nd quarter. First Republic Investment Management Inc. now owns 44,986 shares of the industrial products company’s stock worth $1,586,000 after buying an additional 280 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Altra Industrial Motion by 9.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 476,384 shares of the industrial products company’s stock worth $16,792,000 after buying an additional 40,154 shares during the last quarter. Institutional investors own 98.97% of the company’s stock.

Altra Industrial Motion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Friday, September 16th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, September 15th. Altra Industrial Motion’s dividend payout ratio is currently 128.57%.

Altra Industrial Motion Company Profile

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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).

See Also

Earnings History and Estimates for Altra Industrial Motion (NASDAQ:AIMC)

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