Wall Street analysts forecast that Altra Industrial Motion Corp (NASDAQ:AIMC) will report earnings per share (EPS) of $0.69 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Altra Industrial Motion’s earnings, with the lowest EPS estimate coming in at $0.67 and the highest estimate coming in at $0.70. Altra Industrial Motion reported earnings per share of $0.64 in the same quarter last year, which suggests a positive year over year growth rate of 7.8%. The business is expected to issue its next earnings results on Thursday, October 24th.
On average, analysts expect that Altra Industrial Motion will report full year earnings of $2.92 per share for the current fiscal year, with EPS estimates ranging from $2.90 to $2.94. For the next financial year, analysts anticipate that the business will post earnings of $3.21 per share, with EPS estimates ranging from $3.20 to $3.21. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Altra Industrial Motion.
Altra Industrial Motion (NASDAQ:AIMC) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.08). Altra Industrial Motion had a net margin of 4.34% and a return on equity of 10.50%. The company had revenue of $466.50 million for the quarter, compared to analysts’ expectations of $488.01 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was up 96.6% on a year-over-year basis.
A number of brokerages recently commented on AIMC. TheStreet raised shares of Altra Industrial Motion from a “c+” rating to a “b” rating in a research report on Friday, April 26th. Robert W. Baird set a $46.00 price objective on shares of Altra Industrial Motion and gave the company a “buy” rating in a research report on Friday, July 26th. Zacks Investment Research raised shares of Altra Industrial Motion from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. ValuEngine downgraded shares of Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a research report on Friday, July 26th. Finally, BidaskClub cut shares of Altra Industrial Motion from a “hold” rating to a “sell” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.20.
AIMC traded up $0.58 on Friday, reaching $25.54. 808 shares of the company traded hands, compared to its average volume of 622,677. The business has a 50 day moving average price of $32.65. Altra Industrial Motion has a 52-week low of $23.52 and a 52-week high of $44.05. The stock has a market cap of $1.61 billion, a P/E ratio of 8.93 and a beta of 1.94. The company has a current ratio of 2.12, a quick ratio of 1.41 and a debt-to-equity ratio of 0.89.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 18th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, September 17th. Altra Industrial Motion’s payout ratio is currently 23.78%.
A number of large investors have recently added to or reduced their stakes in AIMC. First Trust Advisors LP bought a new position in shares of Altra Industrial Motion during the 1st quarter worth $434,000. Xact Kapitalforvaltning AB bought a new position in shares of Altra Industrial Motion during the 2nd quarter worth $316,000. Diversified Trust Co bought a new position in shares of Altra Industrial Motion during the 2nd quarter worth $325,000. Fox Run Management L.L.C. bought a new position in shares of Altra Industrial Motion during the 2nd quarter worth $636,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of Altra Industrial Motion during the 2nd quarter worth $334,000.
About Altra Industrial Motion
Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in motion related applications, and high-volume manufacturing and non-manufacturing processes worldwide. It operates in two segments, Power Transmission Technologies and Automation & Specialty.
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