Brokerages Anticipate Applied Industrial Technologies (AIT) Will Post Earnings of $1.20 Per Share

Equities research analysts forecast that Applied Industrial Technologies (NYSE:AIT) will report earnings per share (EPS) of $1.20 for the current quarter, according to Zacks. Two analysts have provided estimates for Applied Industrial Technologies’ earnings. The lowest EPS estimate is $1.18 and the highest is $1.24. Applied Industrial Technologies posted earnings of $1.03 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.5%. The business is scheduled to announce its next quarterly earnings results on Friday, August 9th.

On average, analysts expect that Applied Industrial Technologies will report full year earnings of $4.58 per share for the current year, with EPS estimates ranging from $4.55 to $4.60. For the next year, analysts expect that the business will report earnings of $5.02 per share, with EPS estimates ranging from $4.95 to $5.10. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Applied Industrial Technologies.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Friday, April 26th. The industrial products company reported $1.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.01). Applied Industrial Technologies had a return on equity of 20.06% and a net margin of 4.14%. The firm had revenue of $885.44 million during the quarter, compared to analysts’ expectations of $891.73 million. During the same quarter in the prior year, the company posted $1.06 earnings per share. Applied Industrial Technologies’s quarterly revenue was up 7.0% compared to the same quarter last year.

Several brokerages have weighed in on AIT. Zacks Investment Research cut Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Monday, March 25th. Longbow Research upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a report on Friday, March 8th. Wellington Shields cut Applied Industrial Technologies from a “buy” rating to a “gradually accumulate” rating in a report on Thursday, January 24th. Finally, KeyCorp upgraded Applied Industrial Technologies from a “sector weight” rating to an “overweight” rating in a research note on Tuesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $71.00.

Shares of AIT stock opened at $59.99 on Friday. Applied Industrial Technologies has a twelve month low of $50.56 and a twelve month high of $82.35. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.10 and a beta of 1.27. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.70 and a quick ratio of 1.61.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Tuesday, May 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 33.16%.

A number of institutional investors have recently added to or reduced their stakes in AIT. Quantamental Technologies LLC acquired a new position in shares of Applied Industrial Technologies in the fourth quarter valued at about $113,000. First Mercantile Trust Co. increased its holdings in shares of Applied Industrial Technologies by 11.1% in the fourth quarter. First Mercantile Trust Co. now owns 2,200 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 220 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Applied Industrial Technologies by 13.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,943 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 343 shares during the period. Blueshift Asset Management LLC acquired a new position in shares of Applied Industrial Technologies in the fourth quarter valued at about $270,000. Finally, Zeke Capital Advisors LLC acquired a new position in shares of Applied Industrial Technologies in the first quarter valued at about $282,000. Institutional investors own 91.08% of the company’s stock.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.

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Earnings History and Estimates for Applied Industrial Technologies (NYSE:AIT)

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