$0.59 Earnings Per Share Expected for Altra Industrial Motion Corp (AIMC) This Quarter

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Wall Street analysts expect Altra Industrial Motion Corp (NASDAQ:AIMC) to report earnings per share of $0.59 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Altra Industrial Motion’s earnings. Altra Industrial Motion posted earnings of $0.48 per share in the same quarter last year, which would suggest a positive year over year growth rate of 22.9%. The business is scheduled to announce its next earnings report before the market opens on Thursday, October 25th.

According to Zacks, analysts expect that Altra Industrial Motion will report full year earnings of $2.58 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the company will post earnings of $3.39 per share. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Altra Industrial Motion.

Altra Industrial Motion (NASDAQ:AIMC) last issued its quarterly earnings results on Thursday, July 26th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $237.32 million during the quarter, compared to analyst estimates of $239.02 million. Altra Industrial Motion had a net margin of 5.87% and a return on equity of 16.87%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 earnings per share.

A number of brokerages recently issued reports on AIMC. BidaskClub lowered shares of Altra Industrial Motion from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 3rd. Zacks Investment Research lowered shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. BMO Capital Markets lifted their price target on shares of Altra Industrial Motion from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, July 27th. Robert W. Baird restated a “buy” rating and issued a $52.00 price target on shares of Altra Industrial Motion in a research note on Friday, July 20th. Finally, ValuEngine lowered shares of Altra Industrial Motion from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $52.00.

Shares of NASDAQ:AIMC traded up $0.10 during midday trading on Monday, reaching $38.71. The company had a trading volume of 2,728,382 shares, compared to its average volume of 652,213. The company has a current ratio of 2.58, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63. The firm has a market cap of $1.21 billion, a PE ratio of 18.88 and a beta of 1.69. Altra Industrial Motion has a one year low of $37.80 and a one year high of $53.70.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Monday, September 17th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, September 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.76%. Altra Industrial Motion’s dividend payout ratio (DPR) is presently 33.17%.

In other Altra Industrial Motion news, VP Todd Patriacca sold 3,300 shares of Altra Industrial Motion stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $46.00, for a total value of $151,800.00. Following the completion of the transaction, the vice president now owns 22,590 shares of the company’s stock, valued at $1,039,140. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.40% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB boosted its holdings in Altra Industrial Motion by 33.8% in the first quarter. Xact Kapitalforvaltning AB now owns 5,537 shares of the industrial products company’s stock worth $254,000 after purchasing an additional 1,400 shares during the period. Northern Trust Corp boosted its holdings in Altra Industrial Motion by 0.4% in the second quarter. Northern Trust Corp now owns 368,856 shares of the industrial products company’s stock worth $15,898,000 after purchasing an additional 1,596 shares during the period. Rhumbline Advisers boosted its holdings in Altra Industrial Motion by 7.2% in the second quarter. Rhumbline Advisers now owns 32,080 shares of the industrial products company’s stock worth $1,383,000 after purchasing an additional 2,160 shares during the period. Zebra Capital Management LLC boosted its holdings in Altra Industrial Motion by 13.2% in the second quarter. Zebra Capital Management LLC now owns 18,838 shares of the industrial products company’s stock worth $812,000 after purchasing an additional 2,193 shares during the period. Finally, WealthTrust Fairport LLC boosted its holdings in Altra Industrial Motion by 131.4% in the second quarter. WealthTrust Fairport LLC now owns 3,934 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 2,234 shares during the period. 99.87% of the stock is owned by hedge funds and other institutional investors.

About Altra Industrial Motion

Altra Industrial Motion Corp. designs, produces, and markets mechanical power transmission components worldwide. The company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes; and Gearing. It offers coupling products under the Ameridrives, Bibby, Lamiflex, TB Wood's, Huco Dynatork, Guardian, and Stromag brands for food processing, oil and gas, power generation, material handling, medical, metals, mining, and mobile off-highway markets; and heavy duty clutches and brakes under the Wichita Clutch, Twiflex, Industrial Clutch, Svendborg Brakes, and Stromag brands for use in metal forming, oil and gas drilling platforms, mining, material handling, marine, and wind turbine applications.

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