ITT (NYSE:ITT – Get Free Report) released its quarterly earnings results on Thursday. The conglomerate reported $1.49 EPS for the quarter, beating the consensus estimate of $1.46 by $0.03, Briefing.com reports. The business had revenue of $905.90 million for the quarter, compared to the consensus estimate of $916.38 million. ITT had a net margin of 12.47% and a return on equity of 18.30%. ITT’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.33 earnings per share. ITT updated its FY 2024 guidance to 5.650-5.900 EPS and its FY24 guidance to $5.65-5.90 EPS.
ITT Trading Down 6.8 %
NYSE:ITT traded down $9.49 during mid-day trading on Friday, hitting $129.73. 568,954 shares of the company’s stock were exchanged, compared to its average volume of 406,465. ITT has a fifty-two week low of $91.94 and a fifty-two week high of $149.65. The company has a current ratio of 1.55, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $10.68 billion, a P/E ratio of 25.44, a PEG ratio of 1.81 and a beta of 1.41. The company has a 50 day simple moving average of $132.30 and a 200-day simple moving average of $129.89.
ITT Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.319 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.98%. ITT’s dividend payout ratio is currently 25.10%.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on ITT
About ITT
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.
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