Wall Street brokerages expect that AMETEK, Inc. (NYSE:AME) will report earnings of $0.78 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for AMETEK’s earnings. The highest EPS estimate is $0.79 and the lowest is $0.76. AMETEK posted earnings per share of $0.65 during the same quarter last year, which would suggest a positive year over year growth rate of 20%. The company is expected to issue its next quarterly earnings report on Wednesday, August 1st.
According to Zacks, analysts expect that AMETEK will report full-year earnings of $3.13 per share for the current fiscal year, with EPS estimates ranging from $3.10 to $3.19. For the next year, analysts expect that the firm will post earnings of $3.42 per share, with EPS estimates ranging from $3.34 to $3.57. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for AMETEK.
AMETEK (NYSE:AME) last posted its quarterly earnings data on Wednesday, May 2nd. The technology company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. AMETEK had a net margin of 16.21% and a return on equity of 16.64%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm posted $0.61 EPS. AMETEK’s quarterly revenue was up 16.4% on a year-over-year basis.
AME has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Tuesday, May 22nd. DA Davidson began coverage on shares of AMETEK in a research report on Thursday, April 12th. They issued a “buy” rating and a $85.00 price objective on the stock. ValuEngine raised AMETEK from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Morgan Stanley raised their target price on AMETEK from $76.00 to $79.00 and gave the company an “equal weight” rating in a report on Thursday, May 3rd. Finally, BMO Capital Markets raised their target price on AMETEK from $90.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, May 3rd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. AMETEK presently has an average rating of “Buy” and an average price target of $82.17.
AMETEK opened at $72.50 on Friday, Marketbeat.com reports. AMETEK has a 1-year low of $59.56 and a 1-year high of $79.32. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.18 and a current ratio of 1.69. The firm has a market capitalization of $16.91 billion, a P/E ratio of 27.78, a PEG ratio of 2.33 and a beta of 1.26.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, June 14th. AMETEK’s dividend payout ratio (DPR) is currently 21.46%.
In other AMETEK news, Director Elizebeth R. Varet sold 2,000 shares of the firm’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $75.56, for a total value of $151,120.00. Following the completion of the sale, the director now owns 113,810 shares of the company’s stock, valued at $8,599,483.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in AME. BlackRock Inc. raised its stake in shares of AMETEK by 7.8% during the 1st quarter. BlackRock Inc. now owns 16,255,467 shares of the technology company’s stock worth $1,234,928,000 after buying an additional 1,181,279 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of AMETEK by 28.2% during the 4th quarter. Allianz Asset Management GmbH now owns 3,095,683 shares of the technology company’s stock worth $224,343,000 after buying an additional 681,646 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of AMETEK by 163.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,093,946 shares of the technology company’s stock worth $83,106,000 after buying an additional 679,049 shares during the last quarter. Millennium Management LLC raised its stake in shares of AMETEK by 154.3% during the 4th quarter. Millennium Management LLC now owns 782,344 shares of the technology company’s stock worth $56,696,000 after buying an additional 474,712 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of AMETEK by 6.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,369,528 shares of the technology company’s stock worth $407,923,000 after buying an additional 320,848 shares during the last quarter. 84.07% of the stock is owned by institutional investors and hedge funds.
AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.
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