Brokerages expect Altra Industrial Motion Corp (NASDAQ:AIMC) to announce $233.26 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Altra Industrial Motion’s earnings, with estimates ranging from $231.70 million to $234.82 million. Altra Industrial Motion reported sales of $215.44 million during the same quarter last year, which indicates a positive year over year growth rate of 8.3%. The firm is expected to issue its next quarterly earnings report on Friday, April 27th.
According to Zacks, analysts expect that Altra Industrial Motion will report full year sales of $233.26 million for the current financial year, with estimates ranging from $915.80 million to $924.73 million. For the next financial year, analysts forecast that the business will report sales of $947.90 million per share. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Altra Industrial Motion.
Altra Industrial Motion (NASDAQ:AIMC) last announced its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.02). Altra Industrial Motion had a net margin of 5.87% and a return on equity of 15.92%. The company had revenue of $223.30 million during the quarter, compared to analysts’ expectations of $214.70 million. During the same quarter last year, the firm posted $0.41 earnings per share. Altra Industrial Motion’s revenue for the quarter was up 29.4% compared to the same quarter last year.
A number of brokerages have weighed in on AIMC. Zacks Investment Research raised shares of Altra Industrial Motion from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Thursday, February 8th. BMO Capital Markets reiterated an “outperform” rating and set a $58.00 price target (down previously from $61.00) on shares of Altra Industrial Motion in a report on Friday, February 23rd. BidaskClub upgraded Altra Industrial Motion from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $50.00 price target (down previously from $54.00) on shares of Altra Industrial Motion in a report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $51.00.
Institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Altra Industrial Motion during the 3rd quarter worth approximately $203,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Altra Industrial Motion in the 4th quarter valued at about $203,000. D.A. Davidson & CO. bought a new position in shares of Altra Industrial Motion in the 4th quarter valued at about $206,000. Xact Kapitalforvaltning AB bought a new position in shares of Altra Industrial Motion in the 4th quarter valued at about $209,000. Finally, Sheets Smith Wealth Management bought a new position in shares of Altra Industrial Motion in the 4th quarter valued at about $327,000. 98.32% of the stock is owned by institutional investors.
NASDAQ AIMC traded down $1.50 on Tuesday, reaching $44.85. The company’s stock had a trading volume of 102,650 shares, compared to its average volume of 199,037. Altra Industrial Motion has a twelve month low of $36.50 and a twelve month high of $53.70. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $1,317.83, a price-to-earnings ratio of 21.88 and a beta of 1.64.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Monday, March 19th were given a $0.17 dividend. The ex-dividend date was Friday, March 16th. This represents a $0.68 annualized dividend and a dividend yield of 1.52%. Altra Industrial Motion’s dividend payout ratio is 33.17%.
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Altra Industrial Motion Company Profile
Altra Industrial Motion Corp. is a designer, producer and marketer of a range of mechanical power transmission (MPT) components. The Company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes, and Gearing. It manufactures a range of couplings suitable for various industrial and specialty applications.
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