Analysts Expect Altra Industrial Motion Corp (AIMC) Will Announce Quarterly Sales of $236.80 Million

Wall Street brokerages expect Altra Industrial Motion Corp (NASDAQ:AIMC) to announce $236.80 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Altra Industrial Motion’s earnings, with the highest sales estimate coming in at $236.90 million and the lowest estimate coming in at $236.70 million. Altra Industrial Motion posted sales of $223.36 million in the same quarter last year, which suggests a positive year over year growth rate of 6%. The firm is expected to report its next quarterly earnings report on Tuesday, July 24th.

On average, analysts expect that Altra Industrial Motion will report full year sales of $933.20 million for the current financial year, with estimates ranging from $932.80 million to $933.60 million. For the next financial year, analysts expect that the business will report sales of $970.10 million per share. Zacks’ sales averages are an average based on a survey of analysts that cover Altra Industrial Motion.

Altra Industrial Motion (NASDAQ:AIMC) last issued its quarterly earnings results on Friday, April 27th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. Altra Industrial Motion had a return on equity of 16.28% and a net margin of 5.56%. The firm had revenue of $240.39 million for the quarter, compared to analyst estimates of $229.34 million. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Altra Industrial Motion from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Friday, May 25th. ValuEngine lowered Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Monday, April 23rd. BidaskClub upgraded Altra Industrial Motion from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. BMO Capital Markets restated an “outperform” rating and set a $58.00 price target (down from $61.00) on shares of Altra Industrial Motion in a research report on Friday, February 23rd. Finally, Robert W. Baird restated a “neutral” rating and set a $50.00 price target (down from $54.00) on shares of Altra Industrial Motion in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $52.20.

In other Altra Industrial Motion news, VP Todd Patriacca sold 4,000 shares of the company’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $43.09, for a total transaction of $172,360.00. Following the transaction, the vice president now owns 26,590 shares of the company’s stock, valued at approximately $1,145,763.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James H. Woodward, Jr. sold 13,523 shares of the company’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $42.85, for a total value of $579,460.55. Following the transaction, the director now directly owns 11,998 shares in the company, valued at approximately $514,114.30. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of AIMC. Cambridge Investment Research Advisors Inc. acquired a new position in Altra Industrial Motion during the 4th quarter worth $203,000. Campbell & CO Investment Adviser LLC acquired a new position in Altra Industrial Motion during the 1st quarter worth $204,000. D.A. Davidson & CO. acquired a new position in Altra Industrial Motion during the 4th quarter worth $206,000. Xact Kapitalforvaltning AB acquired a new position in Altra Industrial Motion during the 4th quarter worth $209,000. Finally, Global X Management Co. LLC lifted its holdings in Altra Industrial Motion by 164.6% during the 1st quarter. Global X Management Co. LLC now owns 5,557 shares of the industrial products company’s stock worth $255,000 after buying an additional 3,457 shares in the last quarter.

Altra Industrial Motion traded up $0.10, hitting $44.60, on Monday, according to Marketbeat Ratings. 3,142 shares of the stock traded hands, compared to its average volume of 158,388. Altra Industrial Motion has a 52 week low of $38.80 and a 52 week high of $53.70. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 21.63 and a beta of 1.63. The company has a quick ratio of 1.54, a current ratio of 2.58 and a debt-to-equity ratio of 0.67.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Investors of record on Monday, June 18th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, June 15th. This represents a $0.68 dividend on an annualized basis and a yield of 1.52%. Altra Industrial Motion’s dividend payout ratio (DPR) is presently 33.17%.

About Altra Industrial Motion

Altra Industrial Motion Corp. designs, produces, and markets mechanical power transmission components worldwide. The company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes; and Gearing. It offers coupling products under the Ameridrives, Bibby, Lamiflex, TB Wood's, Huco Dynatork, Guardian, and Stromag brands for food processing, oil and gas, power generation, material handling, medical, metals, mining, and mobile off-highway markets; and heavy duty clutches and brakes under the Wichita Clutch, Twiflex, Industrial Clutch, Svendborg Brakes, and Stromag brands for use in metal forming, oil and gas drilling platforms, mining, material handling, marine, and wind turbine applications.

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