ITT Inc. Expected to Earn Q3 2017 Earnings of $0.60 Per Share (NYSE:ITT)

ITT Inc. (NYSE:ITT) – Investment analysts at KeyCorp dropped their Q3 2017 earnings per share estimates for ITT in a report issued on Sunday. KeyCorp analyst J. Hammond now anticipates that the conglomerate will post earnings of $0.60 per share for the quarter, down from their prior estimate of $0.61. KeyCorp also issued estimates for ITT’s FY2017 earnings at $2.45 EPS.

ITT has been the topic of several other research reports. BidaskClub upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. ValuEngine upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research cut shares of ITT from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) cut shares of ITT from a “buy” rating to a “neutral” rating and reduced their price target for the company from $46.00 to $43.00 in a research report on Tuesday, June 6th. Finally, Stifel Nicolaus boosted their price target on shares of ITT from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $46.57.

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ITT (NYSE ITT) opened at 41.40 on Tuesday. ITT has a 12 month low of $32.46 and a 12 month high of $44.00. The company has a 50-day moving average of $40.64 and a 200 day moving average of $40.59. The company has a market cap of $3.67 billion, a PE ratio of 19.08 and a beta of 1.47.

ITT (NYSE:ITT) last released its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The company had revenue of $630.90 million for the quarter, compared to analysts’ expectations of $628.65 million. ITT had a net margin of 8.64% and a return on equity of 14.17%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 EPS.

A number of large investors have recently bought and sold shares of the company. Punch & Associates Investment Management Inc. raised its stake in ITT by 1.2% in the first quarter. Punch & Associates Investment Management Inc. now owns 48,788 shares of the conglomerate’s stock valued at $2,001,000 after buying an additional 597 shares during the last quarter. Russell Investments Group Ltd. raised its stake in ITT by 32.9% in the first quarter. Russell Investments Group Ltd. now owns 554,419 shares of the conglomerate’s stock valued at $22,743,000 after buying an additional 137,337 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in ITT by 4.8% in the first quarter. Janney Montgomery Scott LLC now owns 6,033 shares of the conglomerate’s stock valued at $248,000 after buying an additional 277 shares during the last quarter. Baker Ellis Asset Management LLC raised its stake in ITT by 0.5% in the first quarter. Baker Ellis Asset Management LLC now owns 25,349 shares of the conglomerate’s stock valued at $1,040,000 after buying an additional 125 shares during the last quarter. Finally, Cubic Asset Management LLC raised its stake in ITT by 1.9% in the first quarter. Cubic Asset Management LLC now owns 44,837 shares of the conglomerate’s stock valued at $1,839,000 after buying an additional 840 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

ITT Company Profile

ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.

Earnings History and Estimates for ITT (NYSE:ITT)

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