Atmus Filtration Technologies (NYSE:ATMU) Updates FY24 Earnings Guidance

Atmus Filtration Technologies (NYSE:ATMU) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $2.35-2.50 for the period, compared to the consensus earnings per share estimate of $2.34. The company issued revenue guidance of $1.65-1.675 billion, compared to the consensus revenue estimate of $1.66 billion. Atmus Filtration Technologies also updated its FY 2024 guidance to 2.350-2.500 EPS.

Atmus Filtration Technologies Trading Up 6.8 %

ATMU opened at $44.27 on Friday. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 4.74 and a beta of 1.68. Atmus Filtration Technologies has a 52 week low of $18.73 and a 52 week high of $44.66. The business’s 50 day moving average is $37.72 and its two-hundred day moving average is $32.98. The company has a quick ratio of 1.30, a current ratio of 2.07 and a debt-to-equity ratio of 3.28.

Atmus Filtration Technologies (NYSE:ATMU) last released its quarterly earnings results on Friday, November 8th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.52 by $0.09. The company had revenue of $404.00 million for the quarter, compared to analyst estimates of $403.40 million. Atmus Filtration Technologies had a return on equity of 187.12% and a net margin of 10.52%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. On average, research analysts predict that Atmus Filtration Technologies will post 2.34 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

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

Analysts Set New Price Targets

ATMU has been the topic of a number of recent research reports. Robert W. Baird boosted their target price on Atmus Filtration Technologies from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Northland Securities boosted their target price on Atmus Filtration Technologies from $38.00 to $49.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Wells Fargo & Company boosted their target price on Atmus Filtration Technologies from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. boosted their target price on Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $42.80.

Insider Buying and Selling

In other Atmus Filtration Technologies news, Director Gretchen R. Haggerty acquired 5,849 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of $34.20 per share, with a total value of $200,035.80. Following the completion of the acquisition, the director now directly owns 19,882 shares of the company’s stock, valued at approximately $679,964.40. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.43% of the stock is currently owned by corporate insiders.

Atmus Filtration Technologies Company Profile

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.