Brokerages Anticipate Altra Industrial Motion Corp. (NASDAQ:AIMC) to Announce $0.79 EPS

Equities research analysts expect Altra Industrial Motion Corp. (NASDAQ:AIMC) to announce $0.79 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for Altra Industrial Motion’s earnings, with the highest EPS estimate coming in at $0.82 and the lowest estimate coming in at $0.75. Altra Industrial Motion posted earnings of $0.60 per share in the same quarter last year, which would suggest a positive year over year growth rate of 31.7%. The firm is scheduled to report its next quarterly earnings results on Friday, July 23rd.

According to Zacks, analysts expect that Altra Industrial Motion will report full-year earnings of $3.19 per share for the current financial year, with EPS estimates ranging from $3.10 to $3.27. For the next financial year, analysts forecast that the company will report earnings of $3.75 per share, with EPS estimates ranging from $3.50 to $4.00. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Altra Industrial Motion.

Altra Industrial Motion (NASDAQ:AIMC) last posted its quarterly earnings data on Wednesday, April 28th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. The business had revenue of $472.10 million during the quarter, compared to the consensus estimate of $457.95 million. Altra Industrial Motion had a net margin of 7.39% and a return on equity of 10.46%.

Several brokerages have weighed in on AIMC. BMO Capital Markets increased their price objective on Altra Industrial Motion from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, May 3rd. Zacks Investment Research raised Altra Industrial Motion from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Monday, April 26th. TheStreet upgraded shares of Altra Industrial Motion from a “c” rating to a “b” rating in a research report on Thursday, April 29th. Rosenblatt Securities lifted their target price on shares of Altra Industrial Motion from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 4th. Finally, Robert W. Baird restated a “buy” rating on shares of Altra Industrial Motion in a research note on Sunday, March 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Altra Industrial Motion has an average rating of “Buy” and a consensus target price of $64.00.

Shares of AIMC stock opened at $64.79 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.57 and a current ratio of 2.20. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 32.23, a P/E/G ratio of 1.35 and a beta of 2.55. The business’s 50 day moving average is $63.56. Altra Industrial Motion has a 12-month low of $28.06 and a 12-month high of $68.07.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 2nd. Shareholders of record on Friday, June 18th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, June 17th. This is a boost from Altra Industrial Motion’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 0.49%. Altra Industrial Motion’s dividend payout ratio is currently 8.33%.

In other news, Director James H. Woodward, Jr. sold 2,378 shares of the firm’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $61.13, for a total transaction of $145,367.14. Also, VP Glenn E. Deegan sold 1,092 shares of the firm’s stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $67.71, for a total transaction of $73,939.32. Following the sale, the vice president now owns 37,608 shares in the company, valued at approximately $2,546,437.68. The disclosure for this sale can be found here. Insiders sold a total of 31,892 shares of company stock worth $2,122,907 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Altra Industrial Motion by 4.1% during the 1st quarter. BlackRock Inc. now owns 5,317,746 shares of the industrial products company’s stock valued at $294,177,000 after buying an additional 209,632 shares in the last quarter. Boston Partners raised its position in shares of Altra Industrial Motion by 38.6% during the 1st quarter. Boston Partners now owns 3,302,208 shares of the industrial products company’s stock valued at $182,995,000 after buying an additional 920,387 shares in the last quarter. Earnest Partners LLC raised its position in shares of Altra Industrial Motion by 9.5% during the 1st quarter. Earnest Partners LLC now owns 2,800,905 shares of the industrial products company’s stock valued at $154,946,000 after buying an additional 242,591 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Altra Industrial Motion by 12.3% during the 4th quarter. JPMorgan Chase & Co. now owns 2,786,398 shares of the industrial products company’s stock valued at $154,451,000 after buying an additional 305,387 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its position in shares of Altra Industrial Motion by 8.1% during the 1st quarter. Champlain Investment Partners LLC now owns 2,575,205 shares of the industrial products company’s stock valued at $142,460,000 after buying an additional 193,145 shares in the last quarter. Hedge funds and other institutional investors own 99.57% of the company’s stock.

Altra Industrial Motion Company Profile

Altra Industrial Motion Corp. designs, produces, and markets a range of electromechanical power transmission motion control products for use in various motion related applications, and high-volume manufacturing and non-manufacturing processes worldwide. It operates in two segments, Power Transmission Technologies (PTT) and Automation & Specialty (A&S).

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