Applied Materials (NASDAQ:AMAT) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Applied Materials (NASDAQ:AMAT) posted its quarterly earnings results on Thursday. The manufacturing equipment provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04, RTT News reports. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.53 billion. Applied Materials had a return on equity of 47.88% and a net margin of 22.10%. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 EPS. Applied Materials updated its Q4 2019 guidance to $0.72-0.80 EPS and its Q4 guidance to $0.72-0.80 EPS.

Shares of NASDAQ AMAT traded up $0.45 during midday trading on Thursday, hitting $47.16. 7,169,270 shares of the stock traded hands, compared to its average volume of 10,039,060. The firm has a 50-day moving average of $47.06 and a two-hundred day moving average of $42.49. The firm has a market capitalization of $44.15 billion, a P/E ratio of 10.60, a PEG ratio of 2.35 and a beta of 1.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.77 and a current ratio of 2.79. Applied Materials has a one year low of $28.79 and a one year high of $52.42.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, August 21st. This represents a $0.84 annualized dividend and a dividend yield of 1.78%. Applied Materials’s payout ratio is 18.88%.

Several analysts recently weighed in on AMAT shares. Craig Hallum restated a “buy” rating and issued a $50.00 price target (up previously from $44.00) on shares of Applied Materials in a research note on Friday, May 17th. ValuEngine downgraded Applied Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Nomura initiated coverage on Applied Materials in a research note on Friday, June 7th. They issued a “neutral” rating and a $40.00 price target on the stock. Goldman Sachs Group cut Applied Materials from a “buy” rating to a “neutral” rating in a research report on Monday, July 22nd. Finally, BidaskClub cut Applied Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Ten equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $51.00.

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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Earnings History for Applied Materials (NASDAQ:AMAT)

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