Wall Street analysts expect Applied Industrial Technologies (NYSE:AIT) to announce $1.20 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Applied Industrial Technologies’ earnings. The lowest EPS estimate is $1.18 and the highest is $1.24. Applied Industrial Technologies reported earnings of $1.03 per share in the same quarter last year, which indicates a positive year over year growth rate of 16.5%. The firm is scheduled to report its next quarterly earnings report on Friday, August 9th.

On average, analysts expect that Applied Industrial Technologies will report full-year earnings of $4.58 per share for the current year, with EPS estimates ranging from $4.55 to $4.60. For the next fiscal year, analysts forecast that the business will post earnings of $5.02 per share, with EPS estimates ranging from $4.95 to $5.10. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Applied Industrial Technologies.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Friday, April 26th. The industrial products company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.01). Applied Industrial Technologies had a net margin of 4.14% and a return on equity of 20.06%. The company had revenue of $885.44 million during the quarter, compared to the consensus estimate of $891.73 million. During the same period last year, the firm posted $1.06 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis.

Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, February 13th. Longbow Research raised shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Applied Industrial Technologies currently has an average rating of “Hold” and a consensus price target of $71.00.

AIT traded up $1.01 during midday trading on Monday, hitting $55.34. The company had a trading volume of 158,528 shares, compared to its average volume of 191,008. Applied Industrial Technologies has a 52 week low of $50.56 and a 52 week high of $82.35. The company has a current ratio of 2.70, a quick ratio of 1.61 and a debt-to-equity ratio of 1.06. The company has a market cap of $2.10 billion, a P/E ratio of 14.80 and a beta of 1.28.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Tuesday, May 14th. Applied Industrial Technologies’s dividend payout ratio is currently 33.16%.

Several hedge funds and other institutional investors have recently modified their holdings of AIT. Norges Bank acquired a new position in shares of Applied Industrial Technologies during the fourth quarter valued at about $45,049,000. Victory Capital Management Inc. grew its holdings in shares of Applied Industrial Technologies by 55.6% during the first quarter. Victory Capital Management Inc. now owns 1,051,933 shares of the industrial products company’s stock valued at $62,558,000 after buying an additional 375,980 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Applied Industrial Technologies by 4.4% during the fourth quarter. BlackRock Inc. now owns 6,362,725 shares of the industrial products company’s stock valued at $343,203,000 after buying an additional 267,302 shares during the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Applied Industrial Technologies during the first quarter valued at about $15,373,000. Finally, Macquarie Group Ltd. grew its holdings in shares of Applied Industrial Technologies by 19.1% during the fourth quarter. Macquarie Group Ltd. now owns 1,034,025 shares of the industrial products company’s stock valued at $55,775,000 after buying an additional 165,706 shares during the last quarter. Hedge funds and other institutional investors own 88.31% of the company’s stock.

About Applied Industrial Technologies

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 and Estimates for Applied Industrial Technologies (NYSE:AIT)

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