Illinois Tool Works (NYSE:ITW – Get Free Report) will 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.Parties interested in registering for the company’s conference call can do so using this link.
Illinois Tool Works (NYSE:ITW – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the business earned $2.41 EPS. Illinois Tool Works’s revenue was down 1.2% compared to the same quarter last year. 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 Trading Down 0.5 %
NYSE ITW opened at $257.08 on Wednesday. The stock has a market cap of $76.71 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The stock has a 50 day simple moving average of $253.18 and a two-hundred day simple moving average of $247.27. Illinois Tool Works has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30.
Illinois Tool Works Increases Dividend
Wall Street Analyst Weigh In
A number of brokerages have weighed in on ITW. Jefferies Financial Group cut their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Truist Financial increased their price objective on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI decreased their target price on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $255.44.
Read Our Latest Analysis on Illinois Tool Works
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.
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