Zacks: Analysts Anticipate Applied Industrial Technologies (AIT) to Announce $0.71 EPS

Equities research analysts predict that Applied Industrial Technologies (NYSE:AIT) will post $0.71 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Applied Industrial Technologies’ earnings. The lowest EPS estimate is $0.69 and the highest is $0.73. Applied Industrial Technologies posted earnings per share of $0.61 in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.4%. The business is expected to issue its next quarterly earnings report on Thursday, January 25th.

On average, analysts expect that Applied Industrial Technologies will report full year earnings of $3.19 per share for the current fiscal year, with EPS estimates ranging from $3.17 to $3.20. For the next financial year, analysts anticipate that the company will report earnings of $3.43 per share, with EPS estimates ranging from $3.40 to $3.50. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Applied Industrial Technologies.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Applied Industrial Technologies had a net margin of 5.29% and a return on equity of 16.25%. The company had revenue of $680.70 million for the quarter, compared to analyst estimates of $668.18 million. During the same period in the prior year, the company earned $0.70 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis.

A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Friday, December 8th. ValuEngine downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Applied Industrial Technologies presently has an average rating of “Hold” and a consensus price target of $67.00.

Several institutional investors have recently modified their holdings of the business. Macquarie Group Ltd. raised its position in shares of Applied Industrial Technologies by 8.3% during the 2nd quarter. Macquarie Group Ltd. now owns 558,691 shares of the industrial products company’s stock worth $32,991,000 after purchasing an additional 42,769 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Applied Industrial Technologies by 66.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 14,360 shares of the industrial products company’s stock worth $848,000 after purchasing an additional 5,716 shares during the last quarter. Parametrica Management Ltd acquired a new position in shares of Applied Industrial Technologies during the 3rd quarter worth about $648,000. Chicago Equity Partners LLC raised its position in shares of Applied Industrial Technologies by 55.8% during the 2nd quarter. Chicago Equity Partners LLC now owns 57,300 shares of the industrial products company’s stock worth $3,384,000 after purchasing an additional 20,520 shares during the last quarter. Finally, 361 Capital LLC acquired a new position in shares of Applied Industrial Technologies during the 3rd quarter worth about $2,006,000. Institutional investors and hedge funds own 87.89% of the company’s stock.

Shares of Applied Industrial Technologies (AIT) traded up $0.55 during trading on Thursday, hitting $63.55. 83,500 shares of the company’s stock were exchanged, compared to its average volume of 194,764. The firm has a market capitalization of $2,445.36, a P/E ratio of 21.00, a P/E/G ratio of 1.65 and a beta of 0.93. Applied Industrial Technologies has a 1-year low of $54.00 and a 1-year high of $70.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.83 and a current ratio of 3.13.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th were given a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.83%. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 32.58%.

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Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.

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

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