- ITT Inc reported second-quarter revenue of $905.9 million, marking an 8.6% increase year-over-year.
- The revenue slightly missed the estimate of $907.7 million.
- Adjusted Earnings Per Share (EPS) for the quarter was $1.49, up from $1.33 year-over-year.
- The reported EPS beat the estimated EPS of $1.46.
- Analysts’ recommendations include 11 buys, 2 holds, and 0 sells.
ITT on Smartkarma
Analysts on Smartkarma are closely monitoring ITT Corporation, with Baptista Research recently initiating coverage on the company. In their report titled “ITT Inc.: Initiation of Coverage – Will Its Outstanding Performance In The China Market Last? – Major Drivers,” Baptista Research highlighted ITT’s strong first-quarter results in 2024, exceeding revenue, margin, and EPS expectations. The company’s impressive performance carried over from 2023, with organic order growth reaching around 7% or 13% in total, resulting in nearly $1 billion in order bookings.
A look at ITT Smart Scores
Factor | Score | Magnitude |
---|---|---|
Value | 2 | |
Dividend | 2 | |
Growth | 5 | |
Resilience | 3 | |
Momentum | 4 | |
OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts have a positive long-term outlook on ITT Inc., a company that manufactures engineered components and technology solutions for various industries. Based on Smartkarma Smart Scores, ITT received a high score of 5 for Growth, indicating strong potential for expanding its business and increasing its market share in the future.
While the company scored moderately in other areas such as Value, Dividend, Resilience, and Momentum, its exceptional Growth score highlights ITT’s capacity to innovate and develop new products for sectors including energy infrastructure, electronics, aerospace, and transportation. Investors may view ITT as a promising option for long-term investment due to its strong growth prospects and diversified product offerings.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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