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Actuant Corp. (ATU) Dropped To A 3-Week Low After Q1 Miss

Actuant Corp. (ATU) reported first quarter EPS of $0.49 Wednesday morning, down from $0.50 in the previous year. The consensus estimate was for EPS of $0.50. Second quarter EPS is expected to be between $0.34 and $0.38, which is below the consensus estimate of $0.46. The company also maintained its full year 2013 EPS forecast of between $2.20 and $2.30. The consensus estimate is for EPS of $2.27.

Actuant gapped open sharply lower Wednesday, but traded in a range for the majority of the session. The stock finished with a loss of 2.25 at $27.35, with volume at a 6-month high. Actuant dropped to a 3-week low and fell below both its 50 and 200-day moving averages.

by RTTNews Staff Writer

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