Wall Street brokerages predict that Applied Materials (NASDAQ:AMAT) will post $1.13 earnings per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Applied Materials’ earnings, with the lowest EPS estimate coming in at $1.10 and the highest estimate coming in at $1.14. Applied Materials posted earnings of $0.79 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 43%. The business is scheduled to issue its next earnings report on Thursday, May 17th.
According to Zacks, analysts expect that Applied Materials will report full-year earnings of $4.41 per share for the current financial year, with EPS estimates ranging from $4.10 to $4.61. For the next year, analysts forecast that the firm will post earnings of $4.57 per share, with EPS estimates ranging from $3.90 to $4.87. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Applied Materials.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. The company had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the company earned $0.67 earnings per share.
AMAT has been the subject of several analyst reports. Needham & Company LLC raised Applied Materials from a “buy” rating to a “strong-buy” rating and raised their price objective for the company from $66.00 to $72.00 in a research note on Monday, January 8th. Vetr lowered Applied Materials from a “strong-buy” rating to a “buy” rating and set a $62.50 price objective for the company. in a research note on Monday, January 8th. BidaskClub lowered Applied Materials from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. UBS raised Applied Materials from a “neutral” rating to a “positive” rating in a research note on Tuesday, January 16th. Finally, Susquehanna Bancshares raised Applied Materials from a “neutral” rating to a “positive” rating and raised their price objective for the company from $60.00 to $72.00 in a research note on Tuesday, January 16th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Applied Materials currently has a consensus rating of “Buy” and an average price target of $64.52.
NASDAQ:AMAT opened at $51.19 on Tuesday. The company has a market capitalization of $57,504.10, a PE ratio of 15.75, a P/E/G ratio of 0.94 and a beta of 1.63. Applied Materials has a 1 year low of $39.15 and a 1 year high of $62.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.96 and a quick ratio of 2.25.
Applied Materials announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 24th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.56%. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, May 23rd. Applied Materials’s dividend payout ratio is presently 12.31%.
In other news, Director Thomas J. Iannotti sold 15,000 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $61.47, for a total value of $922,050.00. Following the sale, the director now directly owns 76,967 shares in the company, valued at $4,731,161.49. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.35% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Gravity Companies Inc. purchased a new position in Applied Materials during the 4th quarter worth $110,000. Risk Paradigm Group LLC purchased a new position in Applied Materials during the 4th quarter worth $110,000. SevenBridge Financial Group LLC increased its holdings in Applied Materials by 957.8% during the 4th quarter. SevenBridge Financial Group LLC now owns 2,380 shares of the manufacturing equipment provider’s stock worth $122,000 after purchasing an additional 2,155 shares during the period. Cerebellum GP LLC purchased a new position in Applied Materials during the 4th quarter worth $122,000. Finally, Mckinley Capital Management LLC Delaware purchased a new position in Applied Materials during the 4th quarter worth $169,000. Institutional investors own 79.33% of the company’s stock.
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About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
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