Illinois Tool Works (ITW) Expected to Announce Quarterly Earnings on Wednesday

Illinois Tool Works (NYSE:ITW) is expected to post its quarterly earnings results before the market opens on Wednesday, February 5th. Analysts expect Illinois Tool Works to post earnings of $2.50 per share and revenue of $3.98 billion for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the firm posted $2.55 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts expect Illinois Tool Works to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Illinois Tool Works Stock Performance

NYSE ITW opened at $258.87 on Wednesday. Illinois Tool Works has a 1 year low of $232.77 and a 1 year high of $279.13. The firm has a market capitalization of $76.44 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11. The firm’s fifty day moving average price is $262.89 and its two-hundred day moving average price is $256.77. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

Wall Street Analyst Weigh In

Several research firms have commented on ITW. Barclays decreased their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Truist Financial upped their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, Citigroup decreased their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and an average price target of $269.89.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.