ITT (ITT) Scheduled to Post Earnings on Thursday

ITT (NYSE:ITT) is scheduled to be releasing its earnings data before the market opens on Thursday, May 2nd. Analysts expect ITT to post earnings of $1.36 per share for the quarter. ITT has set its FY24 guidance at $5.45-5.90 EPS and its FY 2024 guidance at 5.450-5.900 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, February 8th. The conglomerate reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. The company had revenue of $829.10 million during the quarter, compared to the consensus estimate of $814.38 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. ITT’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the business posted $1.29 earnings per share. On average, analysts expect ITT to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

ITT Trading Down 2.4 %

Shares of ITT opened at $129.39 on Wednesday. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.80 and a beta of 1.43. The stock has a 50 day moving average of $129.14 and a 200 day moving average of $117.99. ITT has a 12 month low of $75.82 and a 12 month high of $138.29.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were given a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. This is an increase from ITT’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, March 7th. ITT’s dividend payout ratio (DPR) is presently 25.81%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. DA Davidson increased their price target on ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. KeyCorp raised their target price on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. StockNews.com downgraded ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. Stifel Nicolaus raised their target price on ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Citigroup raised their target price on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, ITT presently has an average rating of “Buy” and an average target price of $135.57.

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.