ITT Inc. (NYSE:ITT) – Analysts at William Blair lowered their Q1 2018 earnings per share estimates for ITT in a research report issued to clients and investors on Tuesday. William Blair analyst N. Heymann now expects that the conglomerate will earn $0.73 per share for the quarter, down from their prior estimate of $0.74. William Blair also issued estimates for ITT’s Q2 2018 earnings at $0.79 EPS, Q3 2018 earnings at $0.80 EPS, Q4 2018 earnings at $0.73 EPS and FY2018 earnings at $3.05 EPS.
ITT (NYSE:ITT) last released its quarterly earnings results on Friday, February 16th. The conglomerate reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. ITT had a return on equity of 14.65% and a net margin of 4.39%. The firm had revenue of $683.60 million for the quarter, compared to analysts’ expectations of $635.71 million. During the same quarter last year, the firm posted $0.48 EPS. The company’s revenue was up 16.2% compared to the same quarter last year.
ITT has been the topic of several other reports. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research lowered ITT from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Stifel Nicolaus reiterated a “buy” rating and set a $63.00 price objective (up from $60.00) on shares of ITT in a research report on Tuesday, January 16th. KeyCorp reiterated a “buy” rating on shares of ITT in a research report on Friday, November 3rd. Finally, Oppenheimer reiterated a “buy” rating and set a $60.00 price objective on shares of ITT in a research report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $55.88.
ITT (NYSE ITT) opened at $51.92 on Wednesday. The company has a market capitalization of $4,720.46, a PE ratio of 20.66, a PEG ratio of 1.42 and a beta of 1.54. ITT has a 1 year low of $36.93 and a 1 year high of $57.62.
Hedge funds have recently modified their holdings of the company. Stevens First Principles Investment Advisors bought a new stake in shares of ITT in the 3rd quarter worth approximately $137,000. Creative Planning bought a new stake in shares of ITT in the 4th quarter worth approximately $205,000. Alps Advisors Inc. bought a new stake in shares of ITT in the 4th quarter worth approximately $209,000. AXA bought a new stake in shares of ITT in the 4th quarter worth approximately $219,000. Finally, Burney Co. bought a new stake in shares of ITT in the 4th quarter worth approximately $222,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 12th will be given a $0.134 dividend. This is a positive change from ITT’s previous quarterly dividend of $0.13. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, March 9th. ITT’s dividend payout ratio (DPR) is currently 39.84%.
ITT announced that its Board of Directors has authorized a share buyback program on Friday, February 16th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the conglomerate to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
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ITT Company Profile
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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