Illinois Tool Works (ITW) Scheduled to Post Quarterly Earnings on Wednesday

Illinois Tool Works (NYSE:ITW) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, October 30th. Analysts expect Illinois Tool Works to post earnings of $2.54 per share for the quarter. Illinois Tool Works has set its FY24 guidance at $10.30-10.40 EPS and its FY 2024 guidance at 10.300-10.400 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.41 earnings per share. On average, analysts expect Illinois Tool Works to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Illinois Tool Works Stock Down 0.5 %

Shares of ITW stock opened at $257.08 on Wednesday. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. Illinois Tool Works has a one year low of $217.50 and a one year high of $271.15. The company’s fifty day moving average price is $253.18 and its 200-day moving average price is $247.27. The company has a market capitalization of $76.71 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 4.10 and a beta of 1.10.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.33%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.17%.

Analysts Set New Price Targets

ITW has been the subject of several research analyst reports. Truist Financial increased their target price on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Barclays dropped their target price on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $255.44.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.