Applied Industrial Technologies (AIT) to Release Earnings on Thursday

Applied Industrial Technologies (NYSE:AITGet Rating) is scheduled to post its quarterly earnings results before the market opens on Thursday, January 26th. Analysts expect Applied Industrial Technologies to post earnings of $1.71 per share for the quarter. Applied Industrial Technologies has set its FY23 guidance at $6.90-7.55 EPS and its FY 2023 guidance at $6.90-$7.55 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Applied Industrial Technologies (NYSE:AITGet Rating) last issued its earnings results on Thursday, October 27th. The industrial products company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.33. Applied Industrial Technologies had a net margin of 7.07% and a return on equity of 25.06%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $988.51 million. During the same period in the previous year, the firm earned $1.36 earnings per share. Applied Industrial Technologies’s quarterly revenue was up 19.1% compared to the same quarter last year. On average, analysts expect Applied Industrial Technologies to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Applied Industrial Technologies Trading Up 0.2 %

AIT stock traded up $0.19 during trading on Tuesday, reaching $122.28. 118,093 shares of the stock were exchanged, compared to its average volume of 175,773. The company has a current ratio of 3.08, a quick ratio of 2.00 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $126.37 and a 200-day moving average price of $114.67. Applied Industrial Technologies has a 1 year low of $88.09 and a 1 year high of $133.74. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 16.98 and a beta of 1.18.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Stockholders of record on Tuesday, November 15th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Monday, November 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 18.89%.

Institutional Investors Weigh In On Applied Industrial Technologies

Large investors have recently added to or reduced their stakes in the business. Lido Advisors LLC purchased a new stake in Applied Industrial Technologies during the 1st quarter worth approximately $396,000. Jane Street Group LLC purchased a new stake in Applied Industrial Technologies during the 1st quarter worth approximately $372,000. UBS Group AG increased its stake in Applied Industrial Technologies by 48.3% during the 3rd quarter. UBS Group AG now owns 3,401 shares of the industrial products company’s stock worth $350,000 after buying an additional 1,108 shares during the period. Renaissance Technologies LLC purchased a new stake in Applied Industrial Technologies during the 1st quarter worth approximately $339,000. Finally, Captrust Financial Advisors increased its stake in Applied Industrial Technologies by 45.5% during the 1st quarter. Captrust Financial Advisors now owns 3,307 shares of the industrial products company’s stock worth $339,000 after buying an additional 1,034 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AIT has been the topic of a number of research analyst reports. KeyCorp boosted their price target on shares of Applied Industrial Technologies from $130.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, October 28th. StockNews.com initiated coverage on shares of Applied Industrial Technologies in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Robert W. Baird boosted their price target on shares of Applied Industrial Technologies from $137.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday.

About Applied Industrial Technologies

(Get Rating)

Applied Industrial Technologies, Inc engages in the manufacture and distribution of industrial parts and products. It operates through the Service Center Based Distribution, and Fluid Power & Flow Control Business segments. The Service Center-Based Distribution segment provides customers with a wide range of industrial products through a network of service centers.

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Earnings History for Applied Industrial Technologies (NYSE:AIT)

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