Brokers Set Expectations for Actuant Co.’s FY2020 Earnings (NYSE:ATU)

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Actuant Co. (NYSE:ATU) – Equities researchers at G.Research issued their FY2020 earnings estimates for Actuant in a research report issued to clients and investors on Tuesday, September 17th, according to Zacks Investment Research. G.Research analyst J. Bergner forecasts that the industrial products company will post earnings of $1.10 per share for the year. G.Research has a “Hold” rating on the stock. G.Research also issued estimates for Actuant’s FY2021 earnings at $1.35 EPS, FY2022 earnings at $1.45 EPS and FY2023 earnings at $1.60 EPS.

Several other research analysts also recently commented on ATU. JPMorgan Chase & Co. downgraded Actuant from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $23.00 to $18.00 in a research note on Wednesday, September 11th. ValuEngine downgraded Actuant from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Robert W. Baird reduced their price target on Actuant from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Royal Bank of Canada set a $24.00 price target on Actuant and gave the company a “hold” rating in a research note on Wednesday, September 18th. Finally, Gabelli downgraded Actuant from a “buy” rating to a “hold” rating and set a $29.00 price target for the company. in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $20.53.

ATU traded down $0.44 during midday trading on Thursday, reaching $20.79. 453,395 shares of the company were exchanged, compared to its average volume of 711,380. The company has a debt-to-equity ratio of 1.50, a quick ratio of 2.17 and a current ratio of 2.43. Actuant has a one year low of $19.07 and a one year high of $27.97. The stock’s 50-day simple moving average is $22.90 and its 200 day simple moving average is $23.58. The stock has a market capitalization of $1.28 billion, a P/E ratio of 28.48, a PEG ratio of 2.27 and a beta of 1.63.

Actuant (NYSE:ATU) last posted its quarterly earnings results on Thursday, September 26th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. The business had revenue of $158.32 million for the quarter, compared to analysts’ expectations of $168.57 million. Actuant had a positive return on equity of 13.49% and a negative net margin of 24.47%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 earnings per share.

The firm also recently declared an annual dividend, which will be paid on Monday, October 14th. Shareholders of record on Friday, September 27th will be paid a $0.04 dividend. The ex-dividend date is Thursday, September 26th. This represents a yield of 0.17%. Actuant’s payout ratio is presently 5.48%.

In other Actuant news, Director Deursen Holly Van sold 1,647 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $21.20, for a total value of $34,916.40. Following the completion of the sale, the director now owns 41,165 shares in the company, valued at approximately $872,698. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.62% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC lifted its holdings in shares of Actuant by 5.8% in the 1st quarter. Neuberger Berman Group LLC now owns 914,252 shares of the industrial products company’s stock valued at $22,279,000 after acquiring an additional 50,226 shares during the last quarter. Northern Trust Corp increased its position in shares of Actuant by 1.9% in the 2nd quarter. Northern Trust Corp now owns 815,667 shares of the industrial products company’s stock valued at $20,236,000 after purchasing an additional 15,077 shares during the last quarter. Investment Counselors of Maryland LLC grew its position in shares of Actuant by 1.1% in the 2nd quarter. Investment Counselors of Maryland LLC now owns 797,937 shares of the industrial products company’s stock valued at $19,797,000 after buying an additional 8,465 shares during the last quarter. Jennison Associates LLC increased its holdings in Actuant by 6.2% during the 2nd quarter. Jennison Associates LLC now owns 774,181 shares of the industrial products company’s stock valued at $19,207,000 after acquiring an additional 45,257 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Actuant by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 749,869 shares of the industrial products company’s stock worth $18,606,000 after buying an additional 14,119 shares during the last quarter.

About Actuant

Actuant Corporation designs, manufactures, and distributes a range of industrial products and systems worldwide. It operates in two segments, Industrial Tools & Services (IT&S) and Engineered Components & Systems (EC&S). The IT&S segment designs, manufactures, and distributes branded hydraulic and mechanical tools; and provides services and tool rentals to the industrial, maintenance, infrastructure, oil and gas, energy, and other markets.

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Earnings History and Estimates for Actuant (NYSE:ATU)

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