nVent Electric (NYSE:NVT – Get Free Report) released its quarterly earnings data on Tuesday. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18), Briefing.com reports. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. During the same quarter in the previous year, the business posted $0.84 earnings per share. nVent Electric’s revenue for the quarter was up 9.4% on a year-over-year basis.
nVent Electric Stock Up 10.5 %
Shares of NYSE NVT traded up $7.31 during midday trading on Wednesday, hitting $77.07. The company’s stock had a trading volume of 2,818,645 shares, compared to its average volume of 1,575,989. The business’s fifty day simple moving average is $69.59 and its two-hundred day simple moving average is $73.09. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. nVent Electric has a 1 year low of $49.28 and a 1 year high of $86.57. The firm has a market capitalization of $12.81 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26.
nVent Electric Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s payout ratio is 22.29%.
Insider Activity
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. Barclays cut their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada cut their price objective on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday. Finally, KeyCorp lifted their price target on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric has an average rating of “Buy” and an average target price of $85.33.
Get Our Latest Research Report on NVT
About nVent Electric
nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.
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