ITT (NYSE:ITT) issued an update on its FY18 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $2.85-3.15 for the period, compared to the Thomson Reuters consensus estimate of $3.05. The company issued revenue guidance of +5-8% to ~$2.71-2.79 billion, compared to the consensus revenue estimate of $2.74 billion.
Shares of ITT (ITT) opened at $53.52 on Friday. ITT has a 1-year low of $36.93 and a 1-year high of $57.62. The company has a market cap of $4,709.76, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.41 and a beta of 1.54.
ITT (NYSE:ITT) last issued its quarterly earnings data on Friday, February 16th. The conglomerate reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. ITT had a net margin of 8.29% and a return on equity of 14.12%. The business had revenue of $683.60 million during the quarter, compared to analyst estimates of $635.71 million. During the same period last year, the business posted $0.48 earnings per share. ITT’s quarterly revenue was up 16.2% compared to the same quarter last year. analysts forecast that ITT will post 3.03 EPS for the current fiscal year.
ITT announced that its Board of Directors has approved a stock buyback program on Friday, February 16th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the conglomerate to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Several analysts have commented on ITT shares. Zacks Investment Research upgraded shares of ITT from a hold rating to a buy rating and set a $62.00 price objective for the company in a report on Thursday, January 18th. Seaport Global Securities reaffirmed a buy rating on shares of ITT in a research note on Monday, November 6th. Robert W. Baird reaffirmed an outperform rating and set a $60.00 target price (up previously from $51.00) on shares of ITT in a research note on Thursday, November 2nd. UBS Group started coverage on shares of ITT in a research note on Tuesday, January 23rd. They set a sell rating and a $55.00 target price for the company. Finally, Oppenheimer reaffirmed a buy rating and set a $60.00 target price on shares of ITT in a research note on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $56.00.
WARNING: “ITT (ITT) Releases FY18 Earnings Guidance” was reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.chaffeybreeze.com/2018/02/18/itt-itt-releases-fy18-earnings-guidance.html.
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.
Receive News & Ratings for ITT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT and related companies with MarketBeat.com's FREE daily email newsletter.