AMETEK (NYSE:AME) Updates FY 2024 Earnings Guidance

AMETEK (NYSE:AME) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 6.770-6.820 for the period, compared to the consensus estimate of 6.760. The company issued revenue guidance of $6.9 billion-$7.1 billion, compared to the consensus revenue estimate of $7.0 billion. AMETEK also updated its Q4 guidance to $1.81-1.86 EPS.

AMETEK Trading Down 2.7 %

Shares of AME stock traded down $4.91 on Friday, reaching $178.43. 1,962,659 shares of the company’s stock were exchanged, compared to its average volume of 1,144,114. The company’s fifty day simple moving average is $169.17 and its 200 day simple moving average is $168.99. AMETEK has a 52 week low of $141.26 and a 52 week high of $186.32. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $41.31 billion, a PE ratio of 31.09, a P/E/G ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $1.64 earnings per share. As a group, analysts forecast that AMETEK will post 6.76 EPS for the current year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. AMETEK’s dividend payout ratio is currently 19.51%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AME shares. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird dropped their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Truist Financial increased their target price on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wolfe Research upgraded shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $195.00.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. 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; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.