Applied Industrial Technologies (NYSE:AIT) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.20-4.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.93. The company issued revenue guidance of (2%) – 2% to $3.40-3.54 billion, compared to the consensus revenue estimate of $3.67 billion.Applied Industrial Technologies also updated its FY 2020 guidance to $4.20-4.50 EPS.
NYSE AIT opened at $51.64 on Wednesday. Applied Industrial Technologies has a one year low of $50.56 and a one year high of $82.35. The firm has a 50-day simple moving average of $58.95. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.70 and a quick ratio of 1.61. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 13.81 and a beta of 1.31.
Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Wednesday, August 14th. The industrial products company reported $1.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.17). Applied Industrial Technologies had a net margin of 4.14% and a return on equity of 20.06%. The business had revenue of $882.70 million during the quarter, compared to analyst estimates of $919.72 million. During the same period last year, the firm posted $1.03 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. Equities research analysts expect that Applied Industrial Technologies will post 4.57 earnings per share for the current year.
Separately, ValuEngine upgraded shares of Applied Industrial Technologies from a sell rating to a hold rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Applied Industrial Technologies currently has a consensus rating of Hold and an average target price of $65.00.
Applied Industrial Technologies Company Profile
Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.
Further Reading: What is a Futures Contract?
Receive News & Ratings for Applied Industrial Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Industrial Technologies and related companies with MarketBeat.com's FREE daily email newsletter.