Revenue Update on ITC Holdings Corp.(NYSE:ITC)

ITC Holdings Corp.(NYSE:ITC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $298.04M. Analysts estimated a revenue of $313.00M. Earnings per share were $0.58. Analysts had estimated an EPS of $0.56.

ITC Holdings Corp. (ITC) made into the market gainers list on Thursdays trading session with the shares advancing 0.76% or 0.35 points. Due to strong positive momentum, the stock ended at $46.61, which is also near the day’s high of $46.61. The stock began the session at $46.35 and the volume stood at 3,77,063 shares. The 52-week high of the shares is $47.46 and the 52 week low is $30.33. The company has a current market capitalization of $7,149 M and it has 15,33,72,060 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 1, 2016, Soneral Christine Mason (SVP & General Counsel) sold 8,616 shares at $44.54 per share price.Also, On May 4, 2016, Linda H Blair (EVP & Chief Business Officer) sold 27,246 shares at $44.36 per share price.On May 3, 2016, Joseph L Welch (Chairman, President & CEO) sold 23,274 shares at $43.91 per share price, according to the Form-4 filing with the securities and exchange commission.

ITC Holdings Corp. is an independent electricity transmission company in the United States. The Company operates maintains and invests in transmission infrastructure. The Company’s customers include investor-owned utilities municipalities cooperatives power marketers and alternative energy suppliers. Its regional infrastructure includes four North Central Multi-Value Projects (MVPs) and the Thumb Loop Project. The Company’s subsidiaries operations include asset planning; engineering design and construction; maintenance and real time operations. The Asset Planning group uses system models and load forecasts to develop its system expansion capital plans. The Engineering Design and Construction group is engaged in the design equipment specifications maintenance plans and project engineering for capital operation and maintenance work. The Company develops and tracks preventive maintenance plans. Its real time operations include system and local balancing authoring operations.

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