Altra Industrial Motion Corp. (NASDAQ:AIMC) Expected to Post Quarterly Sales of $471.75 Million

Wall Street analysts expect Altra Industrial Motion Corp. (NASDAQ:AIMC) to announce sales of $471.75 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Altra Industrial Motion’s earnings. The lowest sales estimate is $470.00 million and the highest is $473.50 million. Altra Industrial Motion posted sales of $437.80 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7.8%. The business is scheduled to issue its next earnings results on Friday, October 22nd.

On average, analysts expect that Altra Industrial Motion will report full-year sales of $1.91 billion for the current year, with estimates ranging from $1.91 billion to $1.92 billion. For the next year, analysts anticipate that the company will post sales of $2.04 billion, with estimates ranging from $2.00 billion to $2.07 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Altra Industrial Motion.

Altra Industrial Motion (NASDAQ:AIMC) last issued its earnings results on Thursday, July 22nd. The industrial products company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. Altra Industrial Motion had a return on equity of 11.14% and a net margin of 8.07%. The firm had revenue of $488.60 million during the quarter, compared to analysts’ expectations of $467.91 million. During the same period last year, the business earned $0.60 earnings per share. Altra Industrial Motion’s quarterly revenue was up 21.9% compared to the same quarter last year.

A number of research firms recently weighed in on AIMC. Zacks Investment Research lowered Altra Industrial Motion from a “buy” rating to a “hold” rating and set a $60.00 target price on the stock. in a report on Tuesday, September 14th. Oppenheimer reiterated a “buy” rating and issued a $72.00 price target on shares of Altra Industrial Motion in a research report on Monday, June 28th. BMO Capital Markets reissued an “outperform” rating and issued a $60.25 price target (down from $70.00) on shares of Altra Industrial Motion in a research report on Tuesday, July 27th. Rosenblatt Securities reissued a “neutral” rating and set a $61.80 price target (down from $64.00) on shares of Altra Industrial Motion in a report on Monday, July 26th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $61.80 price target (down previously from $74.00) on shares of Altra Industrial Motion in a research note on Monday, July 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Altra Industrial Motion has a consensus rating of “Buy” and an average target price of $63.48.

AIMC stock traded down $0.34 during midday trading on Friday, reaching $52.69. The stock had a trading volume of 295,625 shares, compared to its average volume of 311,066. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.66. Altra Industrial Motion has a twelve month low of $36.15 and a twelve month high of $68.07. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.09 and a beta of 2.53. The business has a fifty day simple moving average of $59.45 and a two-hundred day simple moving average of $61.57.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 4th. Investors of record on Friday, September 17th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 16th. This represents a $0.32 annualized dividend and a yield of 0.61%. Altra Industrial Motion’s dividend payout ratio is presently 11.11%.

Hedge funds have recently bought and sold shares of the business. Dark Forest Capital Management LP acquired a new position in Altra Industrial Motion during the second quarter valued at approximately $32,000. Cullen Frost Bankers Inc. bought a new position in shares of Altra Industrial Motion during the 2nd quarter valued at about $39,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Altra Industrial Motion during the 2nd quarter valued at about $57,000. Eagle Bay Advisors LLC bought a new stake in Altra Industrial Motion in the 2nd quarter valued at approximately $70,000. Finally, Point72 Hong Kong Ltd increased its position in shares of Altra Industrial Motion by 506.2% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,279 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 1,068 shares during the last quarter.

Altra Industrial Motion Company Profile

Altra Industrial Motion Corp. engages in the designs, production, and marketing of electromechanical power transmission motion control. It operates through the Power Transmission Technologies; and Automation and Specialty segments. The Power Transmission Technologies segment focuses in the production of couplings, clutches, and brakes; electromagnetic clutches and brakes; and gears.

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Earnings History and Estimates for Altra Industrial Motion (NASDAQ:AIMC)

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