Zacks: Analysts Expect Altra Industrial Motion Corp (AIMC) to Announce $0.66 EPS

Wall Street analysts expect Altra Industrial Motion Corp (NASDAQ:AIMC) to post earnings of $0.66 per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Altra Industrial Motion’s earnings, with the highest EPS estimate coming in at $0.67 and the lowest estimate coming in at $0.64. Altra Industrial Motion reported earnings of $0.57 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.8%. The business is expected to issue its next quarterly earnings results on Tuesday, July 24th.

On average, analysts expect that Altra Industrial Motion will report full-year earnings of $2.47 per share for the current year, with EPS estimates ranging from $2.45 to $2.49. For the next fiscal year, analysts anticipate that the business will report earnings of $2.70 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Altra Industrial Motion.

Altra Industrial Motion (NASDAQ:AIMC) last issued its quarterly earnings data on Friday, April 27th. The industrial products company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The business had revenue of $240.39 million for the quarter, compared to analysts’ expectations of $229.34 million. Altra Industrial Motion had a net margin of 5.56% and a return on equity of 16.28%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $0.53 EPS.

A number of equities research analysts have recently commented on AIMC shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $58.00 price objective (down previously from $61.00) on shares of Altra Industrial Motion in a research note on Friday, February 23rd. Robert W. Baird reaffirmed a “neutral” rating and set a $50.00 price objective (down previously from $54.00) on shares of Altra Industrial Motion in a research note on Thursday, February 22nd. Zacks Investment Research cut shares of Altra Industrial Motion from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Stephens reaffirmed a “buy” rating and set a $56.00 price objective (down previously from $58.00) on shares of Altra Industrial Motion in a research note on Thursday, February 22nd. Finally, BidaskClub cut shares of Altra Industrial Motion from a “hold” rating to a “sell” rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $52.20.

In related news, Director James H. Woodward, Jr. sold 13,523 shares of Altra Industrial Motion stock in a transaction on Friday, May 11th. The shares were sold at an average price of $42.85, for a total value of $579,460.55. Following the sale, the director now owns 11,998 shares of the company’s stock, valued at approximately $514,114.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Todd Patriacca sold 4,000 shares of Altra Industrial Motion stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $43.09, for a total transaction of $172,360.00. Following the completion of the sale, the vice president now directly owns 26,590 shares in the company, valued at approximately $1,145,763.10. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. grew its stake in Altra Industrial Motion by 26.8% in the 1st quarter. Wasatch Advisors Inc. now owns 2,133,850 shares of the industrial products company’s stock valued at $98,050,000 after acquiring an additional 450,361 shares during the period. Earnest Partners LLC grew its stake in Altra Industrial Motion by 2.0% in the 1st quarter. Earnest Partners LLC now owns 1,940,117 shares of the industrial products company’s stock valued at $89,148,000 after acquiring an additional 37,736 shares during the period. BlackRock Inc. grew its stake in Altra Industrial Motion by 1.7% in the 1st quarter. BlackRock Inc. now owns 1,850,544 shares of the industrial products company’s stock valued at $85,033,000 after acquiring an additional 31,518 shares during the period. JPMorgan Chase & Co. grew its stake in Altra Industrial Motion by 11.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,608,237 shares of the industrial products company’s stock valued at $73,898,000 after acquiring an additional 163,515 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Altra Industrial Motion by 17.4% in the 1st quarter. Wells Fargo & Company MN now owns 637,671 shares of the industrial products company’s stock valued at $29,301,000 after acquiring an additional 94,423 shares during the period.

Shares of Altra Industrial Motion traded up $0.10, reaching $44.60, during midday trading on Friday, according to Marketbeat.com. 3,142 shares of the stock were exchanged, compared to its average volume of 158,388. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 21.63 and a beta of 1.63. Altra Industrial Motion has a twelve month low of $38.80 and a twelve month high of $53.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.58 and a quick ratio of 1.54.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Investors of record on Monday, June 18th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, June 15th. This represents a $0.68 dividend on an annualized basis and a yield of 1.52%. Altra Industrial Motion’s dividend payout ratio is currently 33.17%.

Altra Industrial Motion Company Profile

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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