AMETEK (NYSE:AME) Releases FY 2024 Earnings Guidance

AMETEK (NYSE:AME) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 6.770-6.820 for the period, compared to the consensus estimate of 6.760. The company issued revenue guidance of $6.9 billion-$7.1 billion, compared to the consensus revenue estimate of $7.0 billion. AMETEK also updated its Q4 guidance to $1.81-1.86 EPS.

AMETEK Stock Performance

Shares of NYSE AME opened at $178.43 on Friday. The firm’s 50-day moving average price is $169.17 and its 200-day moving average price is $168.92. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a market cap of $41.31 billion, a PE ratio of 31.09, a PEG ratio of 2.77 and a beta of 1.17. AMETEK has a 52-week low of $141.26 and a 52-week high of $186.32.

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

AMETEK Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Monday, September 16th. AMETEK’s payout ratio is 19.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AME shares. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Royal Bank of Canada decreased their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Truist Financial raised their target price on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AMETEK currently has an average rating of “Moderate Buy” and a consensus target price of $195.00.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now owns 23,349 shares in the company, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

About AMETEK

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.