Zacks: Analysts Expect Altra Industrial Motion Corp (NASDAQ:AIMC) Will Post Quarterly Sales of $492.78 Million

Wall Street brokerages expect Altra Industrial Motion Corp (NASDAQ:AIMC) to report sales of $492.78 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Altra Industrial Motion’s earnings, with the lowest sales estimate coming in at $491.66 million and the highest estimate coming in at $493.90 million. Altra Industrial Motion posted sales of $237.32 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 107.6%. The firm is expected to issue its next earnings results on Thursday, July 25th.

According to Zacks, analysts expect that Altra Industrial Motion will report full-year sales of $1.94 billion for the current fiscal year, with estimates ranging from $1.93 billion to $1.94 billion. For the next year, analysts forecast that the business will post sales of $2.00 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Altra Industrial Motion.

Altra Industrial Motion (NASDAQ:AIMC) last posted its quarterly earnings results on Friday, April 26th. The industrial products company reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.09. The business had revenue of $482.80 million during the quarter, compared to the consensus estimate of $475.58 million. Altra Industrial Motion had a net margin of 4.34% and a return on equity of 11.72%. The company’s quarterly revenue was up 100.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share.

AIMC has been the subject of a number of analyst reports. BidaskClub downgraded shares of Altra Industrial Motion from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. Zacks Investment Research upgraded shares of Altra Industrial Motion from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. TheStreet upgraded shares of Altra Industrial Motion from a “c+” rating to a “b” rating in a research note on Friday, April 26th. Finally, ValuEngine upgraded shares of Altra Industrial Motion from a “strong sell” rating to a “sell” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $49.25.

In related news, CFO Christian Storch sold 18,574 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.23, for a total transaction of $691,510.02. Following the completion of the transaction, the chief financial officer now owns 26,528 shares in the company, valued at $987,637.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lipscomb S. Michael bought 13,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were purchased at an average price of $37.30 per share, with a total value of $484,900.00. Following the purchase, the director now owns 27,290 shares of the company’s stock, valued at approximately $1,017,917. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

A hedge fund recently bought a new stake in Altra Industrial Motion stock. First Trust Advisors LP acquired a new stake in Altra Industrial Motion Corp (NASDAQ:AIMC) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,962 shares of the industrial products company’s stock, valued at approximately $434,000.

Shares of NASDAQ:AIMC traded up $0.37 during trading on Friday, hitting $35.47. The company’s stock had a trading volume of 255,825 shares, compared to its average volume of 500,637. The firm’s 50 day simple moving average is $34.47. The stock has a market cap of $2.29 billion, a P/E ratio of 12.40 and a beta of 1.97. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.06 and a quick ratio of 1.37. Altra Industrial Motion has a fifty-two week low of $23.52 and a fifty-two week high of $46.35.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, June 17th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.92%. Altra Industrial Motion’s payout ratio is currently 23.78%.

About Altra Industrial Motion

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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