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.
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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