AMETEK (NYSE:AME) Releases Q2 Earnings Guidance

AMETEK (NYSE:AME) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.08-1.10 for the period, compared to the Thomson Reuters consensus estimate of $1.03. AMETEK also updated its FY 2021 guidance to 4.480-4.560 EPS.

AME stock traded up $1.72 during midday trading on Tuesday, hitting $136.03. The company’s stock had a trading volume of 1,358,120 shares, compared to its average volume of 1,007,180. The company has a quick ratio of 1.47, a current ratio of 1.88 and a debt-to-equity ratio of 0.40. AMETEK has a 52-week low of $75.22 and a 52-week high of $137.84. The firm has a market capitalization of $31.40 billion, a P/E ratio of 35.99, a PEG ratio of 3.73 and a beta of 1.36. The firm has a 50-day simple moving average of $129.55 and a 200-day simple moving average of $120.16.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Tuesday, May 4th. The technology company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.06. AMETEK had a net margin of 18.77% and a return on equity of 16.29%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the company posted $1.02 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts expect that AMETEK will post 3.9 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Monday, March 15th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.59%. The ex-dividend date was Friday, March 12th. This is a boost from AMETEK’s previous quarterly dividend of $0.18. AMETEK’s dividend payout ratio (DPR) is currently 19.09%.

Several equities analysts have commented on AME shares. KeyCorp raised their price target on shares of AMETEK from $140.00 to $141.00 and gave the company an overweight rating in a research report on Monday, April 19th. DA Davidson reaffirmed a buy rating on shares of AMETEK in a research report on Tuesday, February 9th. Rosenblatt Securities lifted their price objective on shares of AMETEK from $140.00 to $142.00 and gave the stock a buy rating in a research report on Tuesday, March 30th. Wells Fargo & Company lifted their price objective on shares of AMETEK from $140.00 to $160.00 and gave the stock an overweight rating in a research report on Monday, April 26th. Finally, Morgan Stanley lifted their price objective on shares of AMETEK from $133.00 to $135.00 and gave the stock an overweight rating in a research report on Monday, April 19th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $128.86.

In related news, Director Anthony James Conti sold 740 shares of AMETEK stock in a transaction on Thursday, March 25th. The shares were sold at an average price of $121.43, for a total transaction of $89,858.20. Following the sale, the director now directly owns 25,538 shares in the company, valued at approximately $3,101,079.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Wesley Hardin sold 4,148 shares of AMETEK stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $124.00, for a total transaction of $514,352.00. Following the sale, the insider now owns 56,085 shares in the company, valued at $6,954,540. The disclosure for this sale can be found here. Insiders have sold a total of 37,128 shares of company stock worth $4,670,688 over the last quarter. 0.74% of the stock is owned by company insiders.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical 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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