Zacks: Brokerages Expect Altra Industrial Motion Corp. (AIMC) to Announce $0.51 EPS

Wall Street analysts expect Altra Industrial Motion Corp. (NASDAQ:AIMC) to announce earnings per share (EPS) of $0.51 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Altra Industrial Motion Corp.’s earnings, with the lowest EPS estimate coming in at $0.50 and the highest estimate coming in at $0.53. Altra Industrial Motion Corp. posted earnings of $0.42 per share during the same quarter last year, which would suggest a positive year over year growth rate of 21.4%. The firm is expected to report its next earnings results on Thursday, July 20th.

According to Zacks, analysts expect that Altra Industrial Motion Corp. will report full year earnings of $1.92 per share for the current fiscal year, with EPS estimates ranging from $1.91 to $1.93. For the next fiscal year, analysts expect that the business will report earnings of $2.15 per share, with EPS estimates ranging from $2.14 to $2.17. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Altra Industrial Motion Corp..

Altra Industrial Motion Corp. (NASDAQ:AIMC) last issued its quarterly earnings data on Friday, April 28th. The industrial products company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.13. The company had revenue of $215.40 million for the quarter, compared to analyst estimates of $209.55 million. Altra Industrial Motion Corp. had a net margin of 3.58% and a return on equity of 16.20%. The company’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share.

A number of equities research analysts recently issued reports on the company. BidaskClub cut Altra Industrial Motion Corp. from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research upgraded Altra Industrial Motion Corp. from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Tuesday, May 2nd. Jefferies Group LLC boosted their price objective on Altra Industrial Motion Corp. to $38.00 and gave the company a “hold” rating in a research note on Wednesday, March 1st. BMO Capital Markets boosted their price objective on Altra Industrial Motion Corp. from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, May 1st. Finally, TheStreet upgraded Altra Industrial Motion Corp. from a “c+” rating to a “b” rating in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $46.00.

Shares of Altra Industrial Motion Corp. (AIMC) traded up 1.01% during trading on Wednesday, hitting $39.90. 160,722 shares of the stock traded hands. The stock has a 50 day moving average price of $42.62 and a 200-day moving average price of $39.38. Altra Industrial Motion Corp. has a 1-year low of $25.77 and a 1-year high of $46.90. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 39.78 and a beta of 1.56.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Friday, June 16th will be paid a $0.17 dividend. This is a boost from Altra Industrial Motion Corp.’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, June 14th. Altra Industrial Motion Corp.’s payout ratio is currently 69.39%.

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In other news, Chairman Carl R. Christenson sold 10,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $44.00, for a total transaction of $440,000.00. Following the sale, the chairman now directly owns 136,176 shares in the company, valued at $5,991,744. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Todd Patriacca sold 1,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $42.00, for a total value of $42,000.00. Following the sale, the vice president now owns 29,371 shares in the company, valued at $1,233,582. The disclosure for this sale can be found here. Insiders sold a total of 63,500 shares of company stock worth $2,740,050 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in AIMC. US Bancorp DE boosted its stake in shares of Altra Industrial Motion Corp. by 5.8% in the first quarter. US Bancorp DE now owns 27,727 shares of the industrial products company’s stock valued at $1,080,000 after buying an additional 1,521 shares in the last quarter. Capital Fund Management S.A. bought a new stake in shares of Altra Industrial Motion Corp. during the first quarter valued at $241,000. Bbva Compass Bancshares Inc. boosted its stake in shares of Altra Industrial Motion Corp. by 4.6% in the first quarter. Bbva Compass Bancshares Inc. now owns 7,098 shares of the industrial products company’s stock valued at $277,000 after buying an additional 311 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Altra Industrial Motion Corp. by 2.7% in the first quarter. Wells Fargo & Company MN now owns 640,923 shares of the industrial products company’s stock valued at $24,964,000 after buying an additional 16,750 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Altra Industrial Motion Corp. during the fourth quarter valued at $982,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

Altra Industrial Motion Corp. Company Profile

Altra Industrial Motion Corp. is a designer, producer and marketer of a range of mechanical power transmission (MPT) components. The Company operates through three segments: Couplings, Clutches and Brakes; Electromagnetic Clutches and Brakes, and Gearing. It manufactures a range of couplings suitable for various industrial and specialty applications.

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