Analysts Anticipate ITT Inc (ITT) Will Post Quarterly Sales of $671.40 Million

Wall Street brokerages predict that ITT Inc (NYSE:ITT) will post $671.40 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for ITT’s earnings. The highest sales estimate is $680.00 million and the lowest is $663.60 million. ITT reported sales of $645.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.1%. The firm is expected to issue its next earnings results before the market opens on Friday, November 2nd.

On average, analysts expect that ITT will report full year sales of $2.76 billion for the current financial year, with estimates ranging from $2.71 billion to $2.78 billion. For the next financial year, analysts expect that the company will post sales of $2.90 billion, with estimates ranging from $2.84 billion to $2.95 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover ITT.

ITT (NYSE:ITT) last issued its quarterly earnings data on Friday, August 3rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. ITT had a net margin of 7.02% and a return on equity of 15.40%. The business had revenue of $696.80 million for the quarter, compared to analyst estimates of $685.80 million. During the same period last year, the business posted $0.55 earnings per share. The firm’s quarterly revenue was up 10.4% on a year-over-year basis.



Several equities research analysts have issued reports on ITT shares. Oppenheimer set a $60.00 price target on shares of ITT and gave the company a “buy” rating in a research note on Tuesday, July 10th. Stifel Nicolaus lifted their price target on shares of ITT from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, August 6th. Seaport Global Securities reiterated a “buy” rating and issued a $69.00 price target on shares of ITT in a research note on Tuesday, August 7th. ValuEngine upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Finally, UBS Group lifted their price target on shares of ITT from $57.00 to $60.00 and gave the company a “sell” rating in a research note on Thursday, August 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $66.13.

Shares of NYSE:ITT traded up $0.83 during midday trading on Monday, reaching $48.79. 825,932 shares of the company were exchanged, compared to its average volume of 722,058. ITT has a fifty-two week low of $46.05 and a fifty-two week high of $63.04. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.24 and a beta of 1.65.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be given a $0.134 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, December 6th. ITT’s dividend payout ratio (DPR) is presently 20.85%.

Several institutional investors and hedge funds have recently made changes to their positions in ITT. UBS Group AG grew its position in shares of ITT by 144.3% in the 1st quarter. UBS Group AG now owns 135,338 shares of the conglomerate’s stock valued at $6,629,000 after acquiring an additional 79,935 shares during the period. Jane Street Group LLC boosted its holdings in shares of ITT by 80.0% during the 1st quarter. Jane Street Group LLC now owns 9,001 shares of the conglomerate’s stock worth $441,000 after buying an additional 4,001 shares during the period. LPL Financial LLC bought a new stake in shares of ITT during the 1st quarter worth about $262,000. Guggenheim Capital LLC boosted its holdings in shares of ITT by 17.1% during the 1st quarter. Guggenheim Capital LLC now owns 172,014 shares of the conglomerate’s stock worth $8,423,000 after buying an additional 25,076 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in shares of ITT by 5.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 67,635 shares of the conglomerate’s stock worth $3,313,000 after buying an additional 3,259 shares during the period. 90.57% of the stock is owned by institutional investors.

ITT Company Profile

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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