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

Atmus Filtration Technologies (NYSE:ATMU) issued an update on its FY24 earnings guidance on Friday morning. The company provided EPS guidance of $2.35-2.50 for the period, compared to the consensus EPS 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 %

NYSE:ATMU opened at $44.27 on Friday. The firm has a market capitalization of $3.69 billion, a P/E ratio of 20.59, a PEG 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 one year low of $18.73 and a one year high of $44.66. The company’s 50-day simple moving average is $37.72 and its 200 day simple moving average is $32.98.

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

Atmus Filtration Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors 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 payout ratio is currently 9.30%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Gretchen R. Haggerty bought 5,849 shares of the stock in a transaction on Friday, August 23rd. The shares were bought 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 owns 19,882 shares in the company, valued at $679,964.40. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.43% of the stock is currently owned by corporate insiders.

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.