Zacks: Analysts Expect AMETEK, Inc. (NYSE:AME) Will Announce Earnings of $1.01 Per Share

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Wall Street brokerages forecast that AMETEK, Inc. (NYSE:AME) will post earnings of $1.01 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for AMETEK’s earnings, with estimates ranging from $1.00 to $1.02. AMETEK posted earnings per share of $0.82 in the same quarter last year, which would suggest a positive year over year growth rate of 23.2%. The firm is scheduled to issue its next earnings results on Thursday, November 7th.

According to Zacks, analysts expect that AMETEK will report full-year earnings of $4.10 per share for the current fiscal year, with EPS estimates ranging from $4.06 to $4.14. For the next year, analysts anticipate that the business will post earnings of $4.35 per share, with EPS estimates ranging from $4.20 to $4.51. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for AMETEK.

AMETEK (NYSE:AME) last posted its earnings results on Tuesday, July 30th. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.32 billion. AMETEK had a net margin of 16.32% and a return on equity of 19.27%. AMETEK’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 EPS.

A number of analysts have recently issued reports on the stock. KeyCorp raised their target price on shares of AMETEK from $94.00 to $100.00 in a research note on Wednesday, July 31st. BMO Capital Markets raised their target price on shares of AMETEK from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Thursday, June 13th. ValuEngine cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Berenberg Bank assumed coverage on shares of AMETEK in a research note on Wednesday, May 15th. They set a “buy” rating and a $100.00 target price for the company. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $94.36.

Shares of NYSE AME traded down $2.15 during mid-day trading on Friday, reaching $83.62. 916,598 shares of the company were exchanged, compared to its average volume of 1,242,324. The company’s 50-day simple moving average is $88.04 and its 200-day simple moving average is $84.62. The company has a quick ratio of 1.53, a current ratio of 2.17 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $19.59 billion, a P/E ratio of 25.42, a P/E/G ratio of 2.19 and a beta of 1.22. AMETEK has a twelve month low of $63.14 and a twelve month high of $92.30.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, September 13th. AMETEK’s dividend payout ratio (DPR) is 17.02%.

In other AMETEK news, Director Anthony James Conti sold 1,570 shares of AMETEK stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $87.79, for a total value of $137,830.30. Following the completion of the sale, the director now owns 17,198 shares in the company, valued at approximately $1,509,812.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William Joseph Burke sold 16,322 shares of AMETEK stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $86.51, for a total transaction of $1,412,016.22. Following the completion of the sale, the chief financial officer now owns 86,727 shares of the company’s stock, valued at approximately $7,502,752.77. The disclosure for this sale can be found here. Insiders sold a total of 90,010 shares of company stock valued at $7,786,522 in the last quarter. Corporate insiders own 0.80% of the company’s stock.

Several large investors have recently modified their holdings of the company. 180 Wealth Advisors LLC raised its position in shares of AMETEK by 4.1% in the 2nd quarter. 180 Wealth Advisors LLC now owns 3,411 shares of the technology company’s stock valued at $301,000 after buying an additional 134 shares in the last quarter. CENTRAL TRUST Co raised its position in shares of AMETEK by 4.6% in the 2nd quarter. CENTRAL TRUST Co now owns 3,103 shares of the technology company’s stock valued at $278,000 after buying an additional 137 shares in the last quarter. Cornerstone Advisors Inc. raised its position in shares of AMETEK by 55.2% in the 1st quarter. Cornerstone Advisors Inc. now owns 388 shares of the technology company’s stock valued at $32,000 after buying an additional 138 shares in the last quarter. ETF Managers Group LLC raised its position in shares of AMETEK by 7.9% in the 1st quarter. ETF Managers Group LLC now owns 1,890 shares of the technology company’s stock valued at $157,000 after buying an additional 139 shares in the last quarter. Finally, Berman Capital Advisors LLC raised its position in shares of AMETEK by 51.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 454 shares of the technology company’s stock valued at $41,000 after buying an additional 154 shares in the last quarter. Institutional investors own 86.54% of the company’s stock.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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