Atmus Filtration Technologies (NYSE:ATMU) Issues 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 2.350-2.500 for the period, compared to the consensus earnings per share estimate of 2.200. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. Atmus Filtration Technologies also updated its FY24 guidance to $2.35-2.50 EPS.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ATMU. JPMorgan Chase & Co. lifted their target price on Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Wells Fargo & Company lifted their price objective on shares of Atmus Filtration Technologies from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Robert W. Baird upped their price objective on shares of Atmus Filtration Technologies from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Northland Securities lifted their target price on shares of Atmus Filtration Technologies from $38.00 to $49.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $42.80.

Atmus Filtration Technologies Trading Up 6.8 %

Shares of ATMU stock opened at $44.27 on Friday. The business’s fifty day moving average price is $37.72 and its 200 day moving average price is $32.98. The firm has a market capitalization of $3.69 billion, a PE ratio of 20.59, a P/E/G ratio of 4.74 and a beta of 1.68. The company has a debt-to-equity ratio of 3.28, a current ratio of 2.07 and a quick ratio of 1.30. Atmus Filtration Technologies has a 1-year low of $18.73 and a 1-year high of $44.66.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. The business had revenue of $404.00 million for the quarter, compared to analysts’ expectations of $403.40 million. Atmus Filtration Technologies had a net margin of 10.52% and a return on equity of 187.12%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 EPS. As a group, sell-side analysts forecast that Atmus Filtration Technologies will post 2.34 EPS for the current fiscal year.

Atmus Filtration Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.20 dividend on an annualized basis and a yield of 0.45%. Atmus Filtration Technologies’s dividend payout ratio (DPR) is presently 9.30%.

Insider Transactions at Atmus Filtration Technologies

In other news, Director Gretchen R. Haggerty acquired 5,849 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $34.20 per share, with a total value of $200,035.80. Following the purchase, the director now directly owns 19,882 shares of the company’s stock, valued at approximately $679,964.40. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.43% of the company’s stock.

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.