ITT (ITT) Set to Announce Earnings on Thursday

ITT (NYSE:ITT) is scheduled to post its quarterly earnings results before the market opens on Thursday, May 2nd. Analysts expect ITT to post earnings of $1.36 per share for the quarter. ITT has set its FY24 guidance at $5.45-5.90 EPS and its FY 2024 guidance at 5.450-5.900 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. The business had revenue of $829.10 million during the quarter, compared to the consensus estimate of $814.38 million. ITT had a net margin of 12.50% and a return on equity of 17.91%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.29 earnings per share. On average, analysts expect ITT to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

ITT Stock Up 0.7 %

ITT stock opened at $130.41 on Thursday. The company has a market capitalization of $10.73 billion, a P/E ratio of 26.29, a PEG ratio of 1.72 and a beta of 1.43. The company has a 50-day simple moving average of $128.71 and a 200 day simple moving average of $117.21. ITT has a fifty-two week low of $75.82 and a fifty-two week high of $138.29.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a $0.319 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.28 annualized dividend and a yield of 0.98%. This is an increase from ITT’s previous quarterly dividend of $0.29. ITT’s dividend payout ratio is presently 25.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ITT shares. StockNews.com downgraded shares of ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. Stifel Nicolaus upped their price target on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Citigroup upped their price target on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a report on Monday, April 8th. DA Davidson upped their price target on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Finally, KeyCorp upped their price target on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $135.57.

ITT Company Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. 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.