Analysts forecast that Applied Industrial Technologies (NYSE:AIT) will announce earnings per share (EPS) of $1.19 for the current quarter, according to Zacks. Two analysts have issued estimates for Applied Industrial Technologies’ earnings, with the lowest EPS estimate coming in at $1.18 and the highest estimate coming in at $1.19. Applied Industrial Technologies reported earnings of $1.03 per share during the same quarter last year, which would indicate a positive year over year growth rate of 15.5%. The business is expected to announce its next quarterly earnings results on Friday, August 9th.
According to Zacks, analysts expect that Applied Industrial Technologies will report full year earnings of $4.57 per share for the current financial year, with EPS estimates ranging from $4.55 to $4.58. For the next financial year, analysts expect that the company will report earnings of $5.05 per share, with EPS estimates ranging from $5.00 to $5.10. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Applied Industrial Technologies.
Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Friday, April 26th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). The company had revenue of $885.44 million for the quarter, compared to the consensus estimate of $891.73 million. Applied Industrial Technologies had a return on equity of 20.06% and a net margin of 4.14%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 EPS.
A number of brokerages have issued reports on AIT. Longbow Research raised Applied Industrial Technologies from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Friday, March 8th. Zacks Investment Research cut Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $71.00.
Institutional investors and hedge funds have recently bought and sold shares of the company. FinTrust Capital Advisors LLC boosted its position in shares of Applied Industrial Technologies by 174.8% in the first quarter. FinTrust Capital Advisors LLC now owns 437 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 278 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Applied Industrial Technologies by 13.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,943 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 343 shares during the period. Zions Bancorporation N.A. boosted its position in shares of Applied Industrial Technologies by 15.1% in the first quarter. Zions Bancorporation N.A. now owns 3,176 shares of the industrial products company’s stock valued at $189,000 after acquiring an additional 416 shares during the period. Zeke Capital Advisors LLC bought a new stake in shares of Applied Industrial Technologies in the first quarter valued at approximately $282,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Applied Industrial Technologies in the first quarter valued at approximately $296,000. 88.31% of the stock is owned by institutional investors.
Applied Industrial Technologies stock traded up $0.31 during trading hours on Wednesday, reaching $59.17. 271,700 shares of the company were exchanged, compared to its average volume of 193,421. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 15.82 and a beta of 1.28. The company has a current ratio of 2.70, a quick ratio of 1.61 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average price of $56.52. Applied Industrial Technologies has a 12 month low of $50.56 and a 12 month high of $82.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.24 annualized dividend and a dividend yield of 2.10%. Applied Industrial Technologies’s dividend payout ratio is 33.16%.
Applied Industrial Technologies Company Profile
Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.
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