Q1 2018 Earnings Forecast for Actuant Corporation Issued By SunTrust Banks (ATU)
Actuant Corporation (NYSE:ATU) – Equities research analysts at SunTrust Banks increased their Q1 2018 EPS estimates for shares of Actuant Corporation in a research note issued on Thursday. SunTrust Banks analyst C. Brady now forecasts that the industrial products company will post earnings per share of $0.18 for the quarter, up from their prior forecast of $0.15. SunTrust Banks currently has a “Hold” rating and a $23.00 price target on the stock. SunTrust Banks also issued estimates for Actuant Corporation’s Q2 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.32 EPS and FY2018 earnings at $1.09 EPS.
Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of Actuant Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. J P Morgan Chase & Co upgraded Actuant Corporation from an “underweight” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $21.00 in a report on Wednesday, June 21st. BMO Capital Markets upped their price target on Actuant Corporation from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Friday, August 18th. Stifel Nicolaus dropped their price target on Actuant Corporation from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Thursday, June 22nd. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $28.00 price objective on shares of Actuant Corporation in a research note on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $26.00.
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Actuant Corporation (NYSE ATU) traded up 0.484% during trading on Monday, reaching $25.925. The company had a trading volume of 109,359 shares. The stock has a 50 day moving average price of $24.75 and a 200 day moving average price of $25.16. Actuant Corporation has a 12 month low of $21.40 and a 12 month high of $29.80. The firm’s market capitalization is $1.55 billion.
Actuant Corporation (NYSE:ATU) last announced its earnings results on Wednesday, September 27th. The industrial products company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.02). The firm had revenue of $275.70 million during the quarter, compared to analyst estimates of $265.33 million. Actuant Corporation had a negative net margin of 6.04% and a positive return on equity of 9.43%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 28th. Actuant Corporation’s payout ratio is presently -3.57%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of Actuant Corporation by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 701,539 shares of the industrial products company’s stock worth $17,258,000 after buying an additional 14,152 shares during the period. OppenheimerFunds Inc. increased its holdings in shares of Actuant Corporation by 16.9% during the 1st quarter. OppenheimerFunds Inc. now owns 30,002 shares of the industrial products company’s stock worth $791,000 after purchasing an additional 4,338 shares during the period. Ameriprise Financial Inc. raised its position in shares of Actuant Corporation by 5.1% during the first quarter. Ameriprise Financial Inc. now owns 312,140 shares of the industrial products company’s stock valued at $8,224,000 after buying an additional 15,097 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Actuant Corporation by 6.2% during the first quarter. Vanguard Group Inc. now owns 5,127,270 shares of the industrial products company’s stock valued at $135,104,000 after buying an additional 299,479 shares during the last quarter. Finally, Aperio Group LLC raised its position in shares of Actuant Corporation by 3.6% during the second quarter. Aperio Group LLC now owns 16,263 shares of the industrial products company’s stock valued at $400,000 after buying an additional 560 shares during the last quarter.
About Actuant Corporation
Actuant Corporation designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company operates through three segments: Industrial, Energy and Engineered Solutions. The Company’s Industrial segment is primarily involved in the design, manufacture and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure and production automation markets.
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