ITT (ITT) Releases FY18 Earnings Guidance

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.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 12th will be issued a $0.134 dividend. This is a positive change from ITT’s previous quarterly dividend of $0.13. This represents a $0.54 annualized dividend and a yield of 1.00%. ITT’s dividend payout ratio (DPR) is 39.84%.

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.

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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.

Earnings History and Estimates for ITT (NYSE:ITT)

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