Zacks: Brokerages Anticipate Actuant Co. (ATU) to Announce $0.40 Earnings Per Share

Analysts expect Actuant Co. (NYSE:ATU) to post $0.40 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Actuant’s earnings, with the highest EPS estimate coming in at $0.43 and the lowest estimate coming in at $0.38. Actuant also posted earnings of $0.40 per share during the same quarter last year. The business is scheduled to issue its next quarterly earnings results on Wednesday, June 28th.

On average, analysts expect that Actuant will report full year earnings of $1.12 per share for the current year, with EPS estimates ranging from $1.10 to $1.15. For the next fiscal year, analysts expect that the business will post earnings of $1.30 per share, with EPS estimates ranging from $1.25 to $1.38. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Actuant.

Actuant (NYSE:ATU) last announced its earnings results on Wednesday, March 22nd. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.01. Actuant had a negative net margin of 10.42% and a positive return on equity of 12.92%. The company had revenue of $258.90 million for the quarter, compared to the consensus estimate of $250.31 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year.

ATU has been the subject of several research reports. KeyCorp raised shares of Actuant from a “sector weight” rating to an “overweight” rating and set a $32.00 price target for the company in a research report on Friday, March 10th. Aegis reaffirmed a “buy” rating and set a $30.00 price target on shares of Actuant in a research report on Tuesday, December 27th. Royal Bank of Canada lowered shares of Actuant from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $29.00 to $27.00 in a research report on Friday, January 13th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “hold” rating and set a $25.00 price target on shares of Actuant in a research report on Wednesday, March 22nd. Finally, Robert W. Baird raised shares of Actuant from a “neutral” rating to an “outperform” rating in a research report on Tuesday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $26.78.

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Shares of Actuant (NYSE:ATU) traded up 3.38% during midday trading on Monday, reaching $26.00. 553,771 shares of the company’s stock traded hands. The firm has a market capitalization of $1.55 billion, a PE ratio of 31.71 and a beta of 1.57. Actuant has a one year low of $20.54 and a one year high of $29.80. The stock’s 50-day moving average price is $26.33 and its 200 day moving average price is $25.90.

In related news, VP Stephen Rennie sold 2,647 shares of the stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $25.20, for a total value of $66,704.40. Following the completion of the sale, the vice president now directly owns 55,818 shares of the company’s stock, valued at approximately $1,406,613.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ted Wozniak sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $25.64, for a total transaction of $25,640.00. Following the completion of the sale, the vice president now directly owns 82,496 shares of the company’s stock, valued at $2,115,197.44. The disclosure for this sale can be found here. Insiders have sold a total of 4,147 shares of company stock valued at $105,009 in the last ninety days. Insiders own 4.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. BlackRock Group LTD raised its stake in Actuant by 6.8% in the third quarter. BlackRock Group LTD now owns 86,452 shares of the industrial products company’s stock valued at $2,010,000 after buying an additional 5,499 shares in the last quarter. Rhumbline Advisers raised its stake in Actuant by 4.7% in the third quarter. Rhumbline Advisers now owns 94,600 shares of the industrial products company’s stock valued at $2,199,000 after buying an additional 4,220 shares in the last quarter. BlackRock Fund Advisors raised its stake in Actuant by 8.0% in the third quarter. BlackRock Fund Advisors now owns 4,205,310 shares of the industrial products company’s stock valued at $97,731,000 after buying an additional 312,272 shares in the last quarter. BlackRock Investment Management LLC raised its stake in Actuant by 0.6% in the third quarter. BlackRock Investment Management LLC now owns 259,008 shares of the industrial products company’s stock valued at $6,019,000 after buying an additional 1,598 shares in the last quarter. Finally, BlackRock Advisors LLC raised its stake in Actuant by 41.2% in the third quarter. BlackRock Advisors LLC now owns 460,417 shares of the industrial products company’s stock valued at $10,700,000 after buying an additional 134,234 shares in the last quarter.

Actuant Company Profile

Actuant Corporation designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company operates through three segments: Industrial, Energy and Engineered Solutions. The Company’s Industrial segment is primarily involved in the design, manufacture and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure and production automation markets.

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