Applied Materials, Inc. (NASDAQ:AMAT) – Investment analysts at B. Riley decreased their Q3 2019 earnings per share (EPS) estimates for Applied Materials in a report released on Monday, August 12th. B. Riley analyst C. Ellis now anticipates that the manufacturing equipment provider will post earnings per share of $0.70 for the quarter, down from their prior forecast of $0.71. B. Riley currently has a “Buy” rating and a $54.00 target price on the stock. B. Riley also issued estimates for Applied Materials’ Q4 2019 earnings at $0.76 EPS, FY2019 earnings at $2.97 EPS, Q2 2020 earnings at $0.84 EPS, Q3 2020 earnings at $0.92 EPS, Q4 2020 earnings at $0.99 EPS and FY2020 earnings at $3.65 EPS.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.04. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the prior year, the business earned $1.20 earnings per share. Applied Materials’s revenue for the quarter was down 14.4% compared to the same quarter last year.
Several other research analysts have also recently commented on the company. Cowen set a $53.00 target price on Applied Materials and gave the stock a “buy” rating in a research report on Monday. DA Davidson cut Applied Materials from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $45.00 in a research report on Monday, July 8th. Citigroup raised their target price on Applied Materials from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Bank of America reaffirmed a “neutral” rating and issued a $52.00 target price (up from $45.00) on shares of Applied Materials in a research report on Friday, May 17th. Finally, UBS Group raised their target price on Applied Materials from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $51.00.
Shares of AMAT stock opened at $47.16 on Wednesday. The stock has a market cap of $44.15 billion, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 2.35 and a beta of 1.68. Applied Materials has a one year low of $28.79 and a one year high of $52.42. The stock has a fifty day moving average price of $47.06 and a 200 day moving average price of $42.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.79 and a quick ratio of 1.77.
A number of institutional investors have recently added to or reduced their stakes in AMAT. Squar Milner Financial Services LLC raised its stake in Applied Materials by 190.8% during the first quarter. Squar Milner Financial Services LLC now owns 698 shares of the manufacturing equipment provider’s stock worth $27,000 after acquiring an additional 458 shares in the last quarter. Princeton Global Asset Management LLC acquired a new stake in shares of Applied Materials in the first quarter valued at $27,000. Horan Capital Advisors LLC. acquired a new stake in shares of Applied Materials in the first quarter valued at $31,000. Cable Hill Partners LLC increased its stake in shares of Applied Materials by 378.4% in the first quarter. Cable Hill Partners LLC now owns 799 shares of the manufacturing equipment provider’s stock valued at $32,000 after buying an additional 632 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. acquired a new stake in shares of Applied Materials in the first quarter valued at $33,000. Hedge funds and other institutional investors own 77.61% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.84 annualized dividend and a yield of 1.78%. Applied Materials’s dividend payout ratio is currently 18.88%.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.
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