ITT (NYSE:ITT) issued an update on its FY19 earnings guidance on Friday morning. The company provided EPS guidance of $3.58-3.68 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.61. The company issued revenue guidance of +3-5% yr/yr to ~$2.83-2.88 billion, compared to the consensus revenue estimate of $2.85 billion.ITT also updated its FY 2019 guidance to $3.58-3.68 EPS.
Shares of NYSE ITT traded down $1.42 during trading hours on Friday, hitting $59.27. 863,427 shares of the stock were exchanged, compared to its average volume of 470,992. The business’s 50 day moving average is $63.99. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 1.84 and a beta of 1.58. ITT has a one year low of $44.89 and a one year high of $66.88.
ITT (NYSE:ITT) last posted its quarterly earnings data on Friday, August 2nd. The conglomerate reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.04. The business had revenue of $719.90 million during the quarter, compared to the consensus estimate of $703.80 million. ITT had a net margin of 11.04% and a return on equity of 16.69%. During the same period in the prior year, the firm earned $0.82 EPS. As a group, analysts forecast that ITT will post 3.61 EPS for the current fiscal year.
Several analysts recently issued reports on ITT shares. ValuEngine downgraded shares of ITT from a buy rating to a hold rating in a report on Thursday. Oppenheimer set a $72.00 price objective on shares of ITT and gave the stock a buy rating in a report on Friday, July 19th. Zacks Investment Research raised shares of ITT from a hold rating to a buy rating and set a $65.00 price objective for the company in a report on Wednesday, June 12th. Finally, Stifel Nicolaus upped their price objective on shares of ITT from $66.00 to $69.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $67.25.
In other ITT news, insider Farrokh Batliwala sold 8,950 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.38, for a total value of $549,351.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas M. Scalera sold 64,135 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.57, for a total transaction of $3,948,791.95. Following the completion of the sale, the chief financial officer now directly owns 73,701 shares of the company’s stock, valued at $4,537,770.57. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.
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: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.
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