Applied Materials, Inc. to Post FY2017 Earnings of $3.22 Per Share, B. Riley Forecasts (AMAT)

Applied Materials, Inc. (NASDAQ:AMAT) – Equities researchers at B. Riley issued their FY2017 earnings estimates for Applied Materials in a research note issued to investors on Wednesday. B. Riley analyst C. Ellis expects that the manufacturing equipment provider will post earnings of $3.22 per share for the year. B. Riley has a “Buy” rating and a $61.00 price target on the stock. B. Riley also issued estimates for Applied Materials’ Q4 2017 earnings at $0.90 EPS, Q1 2018 earnings at $0.91 EPS, Q2 2018 earnings at $0.92 EPS, Q3 2018 earnings at $1.00 EPS, Q4 2018 earnings at $0.94 EPS, FY2018 earnings at $3.76 EPS, Q1 2019 earnings at $0.87 EPS, Q2 2019 earnings at $0.99 EPS, Q3 2019 earnings at $1.09 EPS and FY2019 earnings at $4.05 EPS.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The company’s revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS.

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Several other brokerages also recently weighed in on AMAT. Vetr upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $49.11 target price for the company in a research note on Friday. KeyCorp reiterated an “outperform” rating and set a $57.00 target price on shares of Applied Materials in a research note on Saturday, September 16th. Royal Bank Of Canada upgraded shares of Applied Materials from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $48.00 to $55.00 in a research note on Sunday, September 17th. Morgan Stanley reiterated an “overweight” rating on shares of Applied Materials in a research note on Thursday, September 14th. Finally, Cowen and Company reiterated a “buy” rating and set a $50.00 target price on shares of Applied Materials in a research note on Friday, July 28th. Two investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $51.92.

Applied Materials (NASDAQ:AMAT) opened at 47.15 on Friday. The stock has a market cap of $50.28 billion, a price-to-earnings ratio of 16.76 and a beta of 1.81. The firm’s 50 day moving average price is $44.50 and its 200-day moving average price is $42.82. Applied Materials has a 1-year low of $27.56 and a 1-year high of $48.53. Applied Materials also was the target of unusually large options trading activity on Wednesday. Investors acquired 2,307 call options on the stock. This represents an increase of approximately 118% compared to the typical volume of 1,060 call options.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.85%. Applied Materials’s dividend payout ratio (DPR) is 14.18%.

In other news, Director Alexander Karsner sold 22,762 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total transaction of $1,002,210.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.31% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Applied Materials by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 75,084,373 shares of the manufacturing equipment provider’s stock worth $3,101,736,000 after purchasing an additional 1,721,964 shares in the last quarter. BlackRock Inc. increased its stake in shares of Applied Materials by 2,063.7% during the 1st quarter. BlackRock Inc. now owns 67,009,706 shares of the manufacturing equipment provider’s stock worth $2,606,676,000 after purchasing an additional 63,912,660 shares in the last quarter. State Street Corp increased its stake in shares of Applied Materials by 2.1% during the 2nd quarter. State Street Corp now owns 48,897,158 shares of the manufacturing equipment provider’s stock worth $2,019,939,000 after purchasing an additional 985,296 shares in the last quarter. FMR LLC increased its stake in shares of Applied Materials by 16.8% during the 1st quarter. FMR LLC now owns 32,013,147 shares of the manufacturing equipment provider’s stock worth $1,245,311,000 after purchasing an additional 4,604,275 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of Applied Materials by 14.8% during the 2nd quarter. Capital Research Global Investors now owns 17,724,836 shares of the manufacturing equipment provider’s stock worth $732,213,000 after purchasing an additional 2,284,836 shares in the last quarter. 79.47% of the stock is owned by institutional investors and hedge funds.

Applied Materials Company Profile

Earnings History and Estimates for Applied Materials (NASDAQ:AMAT)

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