Altra Industrial Motion (NASDAQ:AIMC) issued an update on its FY 2020
Pre-Market earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.40-2.60 for the period, compared to the Thomson Reuters consensus estimate of $2.72. The company issued revenue guidance of $1.72-1.77 billion, compared to the consensus revenue estimate of $1.77 billion.Altra Industrial Motion also updated its FY20 guidance to $2.40-2.60 EPS.
Shares of AIMC stock traded down $0.99 during mid-day trading on Friday, reaching $36.41. The stock had a trading volume of 299,798 shares, compared to its average volume of 305,069. The stock’s 50-day moving average price is $35.59 and its two-hundred day moving average price is $30.96. Altra Industrial Motion has a 52-week low of $23.89 and a 52-week high of $38.43. The firm has a market capitalization of $2.25 billion, a PE ratio of 27.58 and a beta of 1.96. The company has a current ratio of 2.09, a quick ratio of 1.40 and a debt-to-equity ratio of 0.87.
Altra Industrial Motion (NASDAQ:AIMC) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. Altra Industrial Motion had a net margin of 4.56% and a return on equity of 9.83%. The company had revenue of $441.90 million for the quarter, compared to analysts’ expectations of $440.80 million. During the same quarter in the previous year, the company earned $0.65 earnings per share. Altra Industrial Motion’s quarterly revenue was down 5.8% on a year-over-year basis. On average, equities research analysts forecast that Altra Industrial Motion will post 2.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, March 18th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Tuesday, March 17th. Altra Industrial Motion’s dividend payout ratio is currently 23.78%.
Several brokerages recently issued reports on AIMC. BidaskClub cut shares of Altra Industrial Motion from a buy rating to a hold rating in a research report on Thursday, January 23rd. ValuEngine cut shares of Altra Industrial Motion from a sell rating to a strong sell rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Altra Industrial Motion presently has an average rating of Hold and an average target price of $46.67.
In related news, Director Larry Mcpherson sold 8,036 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $33.25, for a total transaction of $267,197.00. Following the transaction, the director now owns 8,509 shares in the company, valued at $282,924.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by insiders.
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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