AMETEK (NYSE:AME) Updates Q4 Earnings Guidance

AMETEK (NYSE:AME) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.81-1.86 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AME. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Truist Financial boosted their target price on AMETEK from $201.00 to $219.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Mizuho lifted their price objective on shares of AMETEK from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wolfe Research raised shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. Finally, Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AMETEK has a consensus rating of “Moderate Buy” and a consensus target price of $193.29.

AMETEK Trading Up 6.5 %

NYSE AME opened at $179.95 on Thursday. The stock has a market capitalization of $41.65 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 2.77 and a beta of 1.17. AMETEK has a 52 week low of $136.89 and a 52 week high of $186.32. The stock’s 50 day moving average price is $168.59 and its two-hundred day moving average price is $168.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, analysts anticipate that AMETEK will post 6.76 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Monday, September 16th. AMETEK’s payout ratio is 19.68%.

Insider Buying and Selling

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

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.