ITT (NYSE:ITT) Issues FY24 Earnings Guidance

ITT (NYSE:ITT - Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $5.80-5.86 for the period, compared to the consensus EPS estimate of $5.84. The company issued revenue guidance of +10-12% yr/yr to ~$3.61-3.68 billion, compared to the consensus revenue estimate of $3.63 billion. ITT also updated its FY 2024 guidance to 5.800-5.860 EPS.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. KeyCorp boosted their price objective on shares of ITT from $155.00 to $164.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. The Goldman Sachs Group upped their price target on shares of ITT from $150.00 to $166.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Stifel Nicolaus upped their price target on shares of ITT from $157.00 to $167.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Finally, TD Cowen upped their price target on shares of ITT from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, July 15th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $155.25.

ITT Price Performance

Shares of ITT stock traded up $1.52 on Tuesday, hitting $146.06. The company's stock had a trading volume of 1,038,875 shares, compared to its average volume of 383,718. ITT has a 52-week low of $91.94 and a 52-week high of $153.99. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average price of $142.60 and a 200-day moving average price of $136.03. The company has a market capitalization of $11.93 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 1.92 and a beta of 1.40.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping the consensus estimate of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The business had revenue of $905.90 million for the quarter, compared to analyst estimates of $916.38 million. During the same period in the previous year, the firm earned $1.33 EPS. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts expect that ITT will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $0.319 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.87%. ITT's dividend payout ratio (DPR) is 24.90%.

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.