Atmus Filtration Technologies (NYSE:ATMU) Announces Earnings Results, Beats Estimates By $0.01 EPS

Atmus Filtration Technologies (NYSE:ATMU) posted its quarterly earnings data on Friday. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.01, Briefing.com reports. Atmus Filtration Technologies had a net margin of 10.52% and a return on equity of 135.12%. The business had revenue of $426.60 million during the quarter, compared to analysts’ expectations of $416.18 million. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Atmus Filtration Technologies updated its FY24 guidance to $2.10-2.35 EPS and its FY 2024 guidance to 2.100-2.350 EPS.

Atmus Filtration Technologies Trading Down 8.0 %

Shares of ATMU stock opened at $28.44 on Monday. The stock has a 50-day moving average of $29.04 and a 200-day moving average of $24.50. The company has a current ratio of 1.85, a quick ratio of 1.18 and a debt-to-equity ratio of 7.34. The stock has a market cap of $2.37 billion and a price-to-earnings ratio of 14.51. Atmus Filtration Technologies has a 1-year low of $18.21 and a 1-year high of $33.70.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Atmus Filtration Technologies from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Robert W. Baird upped their price target on shares of Atmus Filtration Technologies from $29.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. The Goldman Sachs Group boosted their price objective on Atmus Filtration Technologies from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Northland Securities raised Atmus Filtration Technologies from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research note on Wednesday, March 20th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $32.67.

About Atmus Filtration Technologies

Atmus Filtration Technologies Inc designs, manufactures, and sells filtration products under the Fleetguard brand name in North America, Europe, South America, Asia, Australia, Africa, and internationally. The company offers fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters, coolants, and fuel additives, as well as other chemicals; and fuel water separators and other filtration systems to original equipment manufacturers, dealers/distributors, and end-users.