Applied Industrial Technologies (NYSE:AIT) Updates FY20 Earnings Guidance

Applied Industrial Technologies (NYSE:AIT) updated its FY20 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.20-4.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.93. The company issued revenue guidance of (2%) – 2% to $3.40-3.54 billion, compared to the consensus revenue estimate of $3.67 billion.Applied Industrial Technologies also updated its FY 2020 guidance to $4.20-4.50 EPS.

Separately, ValuEngine upgraded shares of Applied Industrial Technologies from a sell rating to a hold rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have issued 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 $65.00.

Applied Industrial Technologies stock opened at $51.69 on Wednesday. The company has a market capitalization of $2.08 billion, a PE ratio of 13.82 and a beta of 1.31. Applied Industrial Technologies has a fifty-two week low of $50.56 and a fifty-two week high of $82.35. The stock has a fifty day moving average price of $58.95. The company has a current ratio of 2.70, a quick ratio of 1.61 and a debt-to-equity ratio of 1.06.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Wednesday, August 14th. The industrial products company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.17). The firm had revenue of $882.70 million during the quarter, compared to the consensus estimate of $919.72 million. Applied Industrial Technologies had a return on equity of 20.06% and a net margin of 4.14%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. As a group, equities research analysts forecast that Applied Industrial Technologies will post 4.57 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.24 annualized dividend and a yield of 2.40%. Applied Industrial Technologies’s dividend payout ratio is currently 33.16%.

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 and Estimates for Applied Industrial Technologies (NYSE:AIT)

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