ITT (NYSE:ITT) Issues FY20 Earnings Guidance

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ITT (NYSE:ITT) updated its FY20 earnings guidance on Friday. The company provided EPS guidance of $3.90-4.10 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.99. The company issued revenue guidance of (2%) to 2% to $2.79-2.90 billion, compared to the consensus revenue estimate of $2.93 billion.ITT also updated its FY 2020
Pre-Market guidance to 3.72-4.02 EPS.

A number of equities analysts have commented on the stock. Oppenheimer upped their price objective on shares of ITT from to in a research report on Tuesday, January 7th. Bank of America downgraded shares of ITT from a buy rating to a neutral rating in a research report on Tuesday, December 17th. Robert W. Baird set a $75.00 price objective on shares of ITT and gave the stock a buy rating in a research report on Friday, November 1st. KeyCorp upped their price objective on shares of ITT from $70.00 to $80.00 in a research report on Wednesday, November 27th. Finally, DA Davidson upped their price objective on shares of ITT to $85.00 and gave the stock a buy rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. ITT presently has an average rating of Buy and a consensus target price of $74.38.

Shares of ITT traded down $3.62 during trading hours on Monday, reaching $67.57. The company had a trading volume of 24,169 shares, compared to its average volume of 660,381. The firm has a 50 day simple moving average of $70.94 and a 200-day simple moving average of $65.41. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.00 and a beta of 1.65. ITT has a 12-month low of $53.65 and a 12-month high of $75.56.

ITT (NYSE:ITT) last announced its quarterly earnings results on Friday, February 21st. The conglomerate reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.07. The business had revenue of $719.10 million during the quarter, compared to the consensus estimate of $717.17 million. ITT had a net margin of 11.42% and a return on equity of 17.11%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 EPS. Equities research analysts predict that ITT will post 3.99 earnings per share for the current year.

ITT declared that its Board of Directors has initiated a share buyback plan on Friday, November 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the conglomerate to reacquire up to 8.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

In other ITT news, Director Orlando D. Ashford sold 2,399 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $72.36, for a total transaction of $173,591.64. Following the completion of the transaction, the director now directly owns 20,215 shares in the company, valued at approximately $1,462,757.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

About ITT

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.

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