Applied Industrial Technologies (NYSE:AIT) released its quarterly earnings results on Wednesday. The industrial products company reported $1.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.17), Bloomberg Earnings reports. The business had revenue of $882.70 million for the quarter, compared to the consensus estimate of $919.72 million. Applied Industrial Technologies had a net margin of 4.14% and a return on equity of 20.06%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $1.03 EPS. Applied Industrial Technologies updated its FY 2020 guidance to $4.20-4.50 EPS and its FY20 guidance to $4.20-4.50 EPS.

Shares of AIT traded up $0.38 during mid-day trading on Wednesday, reaching $54.25. 93,712 shares of the company’s stock traded hands, compared to its average volume of 188,824. The firm’s 50-day simple moving average is $58.95. The company has a market cap of $2.08 billion, a PE ratio of 14.51 and a beta of 1.31. The company has a quick ratio of 1.61, a current ratio of 2.70 and a debt-to-equity ratio of 1.06. Applied Industrial Technologies has a 12 month low of $50.56 and a 12 month high of $82.35.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, August 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.29%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 33.16%.

Separately, ValuEngine raised Applied Industrial Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $65.00.

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.

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Earnings History for Applied Industrial Technologies (NYSE:AIT)

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