AMETEK (NYSE:AME) Releases Q4 Earnings Guidance

AMETEK (NYSE:AME) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.81-1.86 for the period, compared to the consensus estimate of $1.83. The company issued revenue guidance of up mid-single digits, compared to the consensus revenue estimate of $1.80 billion. AMETEK also updated its FY 2024 guidance to 6.770-6.820 EPS.

AMETEK Stock Down 2.7 %

Shares of NYSE AME opened at $178.43 on Friday. AMETEK has a 1 year low of $141.26 and a 1 year high of $186.32. The firm has a market cap of $41.31 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 2.77 and a beta of 1.17. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The stock’s 50-day simple moving average is $169.17 and its 200-day simple moving average is $168.92.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. AMETEK’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.64 earnings per share. As a group, equities analysts anticipate that AMETEK will post 6.76 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently weighed in on AME shares. Robert W. Baird lowered their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Truist Financial lifted their target price on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday. Mizuho lifted their target price on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada decreased their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and an average price target of $195.00.

Insider Transactions at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

AMETEK Company Profile

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.