Atmus Filtration Technologies (NYSE:ATMU) Updates FY 2024 Earnings Guidance

Atmus Filtration Technologies (NYSE:ATMU) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.150-2.400 for the period, compared to the consensus earnings per share estimate of 2.160. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. Atmus Filtration Technologies also updated its FY24 guidance to $2.15-2.40 EPS.

Atmus Filtration Technologies Stock Up 3.0 %

Shares of ATMU traded up $0.91 during midday trading on Friday, reaching $30.89. 2,804,018 shares of the stock were exchanged, compared to its average volume of 2,302,139. Atmus Filtration Technologies has a 12-month low of $18.21 and a 12-month high of $33.70. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 3.77 and a beta of 1.73. The company has a quick ratio of 1.27, a current ratio of 2.00 and a debt-to-equity ratio of 4.83. The firm has a 50 day simple moving average of $29.38 and a 200-day simple moving average of $27.88.

Atmus Filtration Technologies (NYSE:ATMU) last issued its quarterly earnings results on Friday, May 3rd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.01. Atmus Filtration Technologies had a return on equity of 314.52% and a net margin of 10.03%. The firm had revenue of $426.60 million for the quarter, compared to analyst estimates of $416.18 million. Atmus Filtration Technologies’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts forecast that Atmus Filtration Technologies will post 2.26 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 1st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, August 1st.

Analyst Ratings Changes

ATMU has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on shares of Atmus Filtration Technologies from $30.00 to $34.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Robert W. Baird reduced their price target on Atmus Filtration Technologies from $37.00 to $36.00 and set an outperform rating for the company in a research report on Friday, July 19th. Wells Fargo & Company cut their target price on shares of Atmus Filtration Technologies from $37.00 to $36.00 and set an overweight rating for the company in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Atmus Filtration Technologies from $36.00 to $38.00 and gave the stock an overweight rating in a research note on Monday, April 15th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of Buy and a consensus target price of $35.60.

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.