Analysts Anticipate ITT Inc. (NYSE:ITT) Will Announce Quarterly Sales of $718.45 Million

Posted by on May 28th, 2022

Wall Street brokerages expect ITT Inc. (NYSE:ITT – Get Rating) to post $718.45 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for ITT’s earnings, with the highest sales estimate coming in at $728.00 million and the lowest estimate coming in at $707.00 million. ITT reported sales of $691.60 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3.9%. The firm is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that ITT will report full-year sales of $3.00 billion for the current fiscal year, with estimates ranging from $2.97 billion to $3.02 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.29 billion, with estimates ranging from $3.22 billion to $3.34 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow ITT.

ITT (NYSE:ITT – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The conglomerate reported $0.97 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.97. ITT had a return on equity of 15.90% and a net margin of 10.92%. The company had revenue of $726.20 million for the quarter, compared to the consensus estimate of $695.93 million. During the same quarter in the previous year, the business earned $1.06 EPS. ITT’s revenue was up 4.0% compared to the same quarter last year.

Several research firms have recently commented on ITT. The Goldman Sachs Group reduced their price objective on ITT from $109.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, April 7th. KeyCorp lowered their price target on shares of ITT from $113.00 to $100.00 in a report on Wednesday, May 4th. UBS Group raised shares of ITT from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $107.00 to $95.00 in a research note on Friday, April 8th. StockNews.com assumed coverage on shares of ITT in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Stifel Nicolaus decreased their price objective on shares of ITT from $107.00 to $91.00 and set a “buy” rating for the company in a research report on Monday, April 18th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $103.36.

Institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. acquired a new stake in shares of ITT during the 1st quarter worth $26,000. National Bank of Canada FI acquired a new stake in shares of ITT during the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC acquired a new stake in shares of ITT during the fourth quarter valued at about $28,000. KB Financial Partners LLC acquired a new stake in shares of ITT during the fourth quarter valued at about $36,000. Finally, Parkside Investments LLC acquired a new stake in shares of ITT during the first quarter valued at about $37,000. Institutional investors own 95.64% of the company’s stock.

ITT stock opened at $72.99 on Friday. The stock has a market capitalization of $6.09 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 1.23 and a beta of 1.51. ITT has a 12-month low of $67.16 and a 12-month high of $105.54. The stock’s 50 day simple moving average is $73.05 and its 200 day simple moving average is $86.97.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Investors of record on Friday, June 17th will be paid a $0.264 dividend. This represents a $1.06 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, June 16th. ITT’s dividend payout ratio (DPR) is 29.94%.

ITT Company Profile (Get Rating)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.

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