Analysts Expect Applied Industrial Technologies (AIT) Will Post Earnings of $1.20 Per Share

Wall Street analysts forecast that Applied Industrial Technologies (NYSE:AIT) will report earnings per share of $1.20 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Applied Industrial Technologies’ earnings, with the highest EPS estimate coming in at $1.24 and the lowest estimate coming in at $1.18. Applied Industrial Technologies posted earnings per share of $1.03 in the same quarter last year, which would indicate a positive year over year growth rate of 16.5%. The firm is expected to report its next 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 fiscal year, with EPS estimates ranging from $4.55 to $4.60. For the next fiscal year, analysts anticipate that the company will post earnings of $5.02 per share, with EPS estimates ranging from $4.95 to $5.10. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Applied Industrial Technologies.

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

AIT has been the topic of a number of recent research reports. Longbow Research raised Applied Industrial Technologies from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Friday, March 8th. Zacks Investment Research raised Applied Industrial Technologies from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Applied Industrial Technologies has a consensus rating of “Hold” and an average price target of $71.00.

Large investors have recently bought and sold shares of the company. FinTrust Capital Advisors LLC raised its stake in shares of Applied Industrial Technologies by 174.8% in the first quarter. FinTrust Capital Advisors LLC now owns 437 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 278 shares during the last quarter. BlueMountain Capital Management LLC bought a new position in shares of Applied Industrial Technologies in the first quarter valued at approximately $77,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Applied Industrial Technologies by 119.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,710 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 930 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $113,000. Finally, First Mercantile Trust Co. raised its stake 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 acquiring an additional 220 shares during the last quarter. Institutional investors own 88.31% of the company’s stock.

NYSE AIT traded up $1.01 during trading on Monday, reaching $55.34. 158,528 shares of the company traded hands, compared to its average volume of 191,008. The company has a current ratio of 2.70, a quick ratio of 1.61 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 14.80 and a beta of 1.28. Applied Industrial Technologies has a 1-year low of $50.56 and a 1-year high of $82.35.

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Tuesday, May 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 33.16%.

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.

Further Reading: Institutional Investors

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

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