William Blair Research Analysts Decrease Earnings Estimates for ITT Inc. (ITT)

ITT Inc. (NYSE:ITT) – Stock analysts at William Blair decreased their Q1 2017 earnings estimates for shares of ITT in a research report issued to clients and investors on Tuesday. William Blair analyst N. Heymann now forecasts that the firm will earn $0.60 per share for the quarter, down from their previous estimate of $0.67. William Blair also issued estimates for ITT’s Q2 2017 earnings at $0.62 EPS, Q3 2017 earnings at $0.59 EPS, Q4 2017 earnings at $0.49 EPS, FY2017 earnings at $2.30 EPS and FY2018 earnings at $2.55 EPS.

ITT (NYSE:ITT) last released its earnings results on Tuesday, February 14th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.06. The firm had revenue of $588 million for the quarter, compared to analysts’ expectations of $551.89 million. ITT had a return on equity of 15.41% and a net margin of 7.93%. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 EPS.

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Earnings History and Estimates for ITT (NYSE:ITT)

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Other equities analysts have also recently issued reports about the company. Oppenheimer Holdings, Inc. upgraded ITT from a “market perform” rating to an “outperform” rating in a research report on Thursday. Stifel Nicolaus lifted their price target on ITT to $49.00 in a research report on Wednesday. KeyCorp upgraded ITT from a “sector weight” rating to an “overweight” rating and set a $40.00 target price for the company in a research report on Monday, November 7th. They noted that the move was a valuation call. Bank of America Corporation upgraded ITT from a “neutral” rating to a “buy” rating in a research report on Monday, January 9th. Finally, Barclays PLC restated a “buy” rating on shares of ITT in a research report on Monday, November 7th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. ITT currently has an average rating of “Buy” and a consensus target price of $43.25.

ITT (NYSE:ITT) traded up 0.65% during midday trading on Thursday, reaching $43.64. The company’s stock had a trading volume of 175,884 shares. ITT has a 52-week low of $30.06 and a 52-week high of $44.00. The firm has a 50 day moving average of $41.07 and a 200 day moving average of $37.65. The firm has a market cap of $3.85 billion, a P/E ratio of 21.11 and a beta of 1.39.

A number of large investors have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. raised its stake in ITT by 3.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,378 shares of the company’s stock worth $131,000 after buying an additional 120 shares during the period. Tyers Asset Management LLC bought a new stake in ITT during the fourth quarter worth $135,000. Advisor Group Inc. raised its stake in ITT by 40.7% in the third quarter. Advisor Group Inc. now owns 3,852 shares of the company’s stock worth $138,000 after buying an additional 1,114 shares during the period. Quantbot Technologies LP bought a new stake in ITT during the third quarter worth $159,000. Finally, Elkfork Partners LLC bought a new stake in ITT during the fourth quarter worth $185,000. 91.15% of the stock is owned by hedge funds and other institutional investors.

This story was originally posted by Zolmax and is the sole property of of Zolmax. If you are reading this story on another publication, it was stolen and republished in violation of United States and international copyright laws. The legal version of this story can be viewed at https://zolmax.com/investing/william-blair-research-analysts-decrease-earnings-estimates-for-itt-inc-itt/1206603.html.

In other ITT news, insider Aris C. Chicles sold 30,570 shares of ITT stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $41.02, for a total transaction of $1,253,981.40. Following the completion of the sale, the insider now owns 70,470 shares of the company’s stock, valued at $2,890,679.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be paid a dividend of $0.128 per share. The ex-dividend date is Thursday, March 9th. This represents a $0.51 annualized dividend and a yield of 1.18%. This is a positive change from ITT’s previous quarterly dividend of $0.12. ITT’s payout ratio is 22.94%.

About ITT

ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.

5 Day Chart for NYSE:ITT

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