Altra Industrial Motion (NASDAQ:AIMC) Updates FY 2020 Pre-Market Earnings Guidance

Altra Industrial Motion (NASDAQ:AIMC) updated its FY 2020
Pre-Market earnings guidance on Thursday. The company provided earnings per share guidance of 2.40-2.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.72. The company issued revenue guidance of $1.72-1.77 billion, compared to the consensus revenue estimate of $1.77 billion.Altra Industrial Motion also updated its FY20 guidance to $2.40-2.60 EPS.

Several research analysts recently commented on the stock. BidaskClub downgraded shares of Altra Industrial Motion from a buy rating to a hold rating in a report on Thursday, January 23rd. ValuEngine downgraded shares of Altra Industrial Motion from a sell rating to a strong sell rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $46.67.

NASDAQ:AIMC traded down $0.99 during trading hours on Friday, hitting $36.41. The stock had a trading volume of 299,798 shares, compared to its average volume of 305,069. The company has a 50 day simple moving average of $35.59 and a two-hundred day simple moving average of $30.96. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.09 and a quick ratio of 1.40. Altra Industrial Motion has a one year low of $23.89 and a one year high of $38.43. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 27.58 and a beta of 1.96.

Altra Industrial Motion (NASDAQ:AIMC) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.02. Altra Industrial Motion had a net margin of 4.56% and a return on equity of 9.83%. The firm had revenue of $441.90 million during the quarter, compared to the consensus estimate of $440.80 million. During the same period last year, the firm earned $0.65 EPS. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. Equities research analysts anticipate that Altra Industrial Motion will post 2.86 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, March 18th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.87%. The ex-dividend date is Tuesday, March 17th. Altra Industrial Motion’s payout ratio is 23.78%.

In other Altra Industrial Motion news, Director Larry Mcpherson sold 8,036 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $33.25, for a total value of $267,197.00. Following the completion of the transaction, the director now directly owns 8,509 shares of the company’s stock, valued at approximately $282,924.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Altra Industrial Motion Company Profile

Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in motion related applications, and high-volume manufacturing and non-manufacturing processes worldwide. It operates in two segments, Power Transmission Technologies and Automation & Specialty.

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