ITT (ITT) to Release Earnings on Tuesday

ITT (NYSE:ITT) will be announcing its earnings results before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $1.43 per share for the quarter. ITT has set its FY 2024 guidance at 5.650-5.900 EPS and its FY24 guidance at $5.65-5.90 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.03. ITT had a return on equity of 18.30% and a net margin of 12.47%. The company had revenue of $905.90 million during the quarter, compared to analysts’ expectations of $916.38 million. During the same period in the prior year, the company earned $1.33 EPS. ITT’s revenue was up 8.6% compared to the same quarter last year. On average, analysts expect ITT to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

ITT Stock Up 0.3 %

Shares of ITT opened at $143.78 on Monday. ITT has a 52 week low of $91.94 and a 52 week high of $153.99. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.92 and a beta of 1.40. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.55. The stock has a fifty day moving average of $142.17 and a 200-day moving average of $135.81.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $0.319 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.89%. ITT’s payout ratio is 24.43%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Stifel Nicolaus increased their price objective on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. KeyCorp increased their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen increased their price objective on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, The Goldman Sachs Group increased their price objective on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, ITT presently has a consensus rating of “Buy” and a consensus target price of $155.25.

About ITT

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.