ITT (ITT) Issues FY 2018 Earnings Guidance

ITT (NYSE:ITT) issued an update on its FY 2018 earnings guidance on Friday morning. The company provided EPS guidance of $3.13-3.15 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.14. The company issued revenue guidance of $2.74-2.766 billion, compared to the consensus revenue estimate of $2.77 billion.ITT also updated its FY18 guidance to $3.13-3.15 EPS.

Shares of ITT opened at $56.97 on Friday. The firm has a market cap of $4.99 billion, a PE ratio of 22.00, a P/E/G ratio of 1.47 and a beta of 1.71. ITT has a 1-year low of $46.10 and a 1-year high of $63.04.

ITT (NYSE:ITT) last announced its quarterly earnings data on Friday, November 2nd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. The firm had revenue of $680.60 million for the quarter, compared to analyst estimates of $677.36 million. ITT had a net margin of 7.02% and a return on equity of 15.40%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 earnings per share. As a group, analysts predict that ITT will post 3.15 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be issued a dividend of $0.134 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, December 6th. ITT’s dividend payout ratio (DPR) is presently 20.85%.

Several equities research analysts have commented on ITT shares. Oppenheimer set a $60.00 price target on shares of ITT and gave the company a buy rating in a report on Tuesday, July 10th. ValuEngine raised shares of ITT from a hold rating to a buy rating in a report on Thursday, July 19th. KeyCorp upped their price target on shares of ITT from $65.00 to $68.00 and gave the company an overweight rating in a report on Monday, August 6th. Stifel Nicolaus upped their price target on shares of ITT from $59.00 to $68.00 and gave the company a buy rating in a report on Monday, August 6th. Finally, DA Davidson set a $70.00 price target on shares of ITT and gave the company a buy rating in a report on Monday, August 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $66.13.

About ITT

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.

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Earnings History and Estimates for ITT (NYSE:ITT)

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