ITT (ITT) Set to Announce Quarterly Earnings on Tuesday

ITT (NYSE:ITT) will release its earnings data before the market opens on Tuesday, October 29th. Analysts expect ITT to post 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.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

ITT (NYSE:ITT) last released 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. The business had revenue of $905.90 million during the quarter, compared to analyst estimates of $916.38 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. ITT’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.33 EPS. On average, analysts expect ITT to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

ITT Price Performance

Shares of ITT stock opened at $147.64 on Tuesday. 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 firm has a market cap of $12.15 billion, a P/E ratio of 28.95, a P/E/G ratio of 2.01 and a beta of 1.40. The business’s 50 day moving average price is $141.09 and its 200-day moving average price is $135.35. ITT has a fifty-two week low of $91.94 and a fifty-two week high of $153.99.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Tuesday, September 3rd. ITT’s payout ratio is currently 24.90%.

Analyst Ratings Changes

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

ITT Company Profile

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.