Equities analysts expect AMETEK, Inc. (NYSE:AME) to report sales of $1.32 billion for the current quarter, Zacks reports. Five analysts have made estimates for AMETEK’s earnings, with the highest sales estimate coming in at $1.33 billion and the lowest estimate coming in at $1.32 billion. AMETEK posted sales of $1.21 billion in the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The company is expected to issue its next earnings report on Tuesday, July 30th.
On average, analysts expect that AMETEK will report full-year sales of $5.25 billion for the current year, with estimates ranging from $5.24 billion to $5.27 billion. For the next financial year, analysts anticipate that the business will post sales of $5.46 billion, with estimates ranging from $5.42 billion to $5.53 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for AMETEK.
AMETEK (NYSE:AME) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. AMETEK had a net margin of 16.14% and a return on equity of 18.56%. AMETEK’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS.
Several research firms have recently weighed in on AME. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Thursday. Berenberg Bank began coverage on shares of AMETEK in a research note on Wednesday, May 15th. They issued a “buy” rating and a $100.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of AMETEK from $99.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. DA Davidson lifted their price objective on shares of AMETEK to $92.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Finally, Vertical Research reiterated a “buy” rating on shares of AMETEK in a research note on Friday, May 3rd. Fifteen analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $91.50.
Shares of NYSE:AME traded down $0.05 during mid-day trading on Wednesday, hitting $84.94. The company had a trading volume of 5,652 shares, compared to its average volume of 1,060,673. The firm has a market capitalization of $19.35 billion, a P/E ratio of 25.88, a P/E/G ratio of 2.17 and a beta of 1.21. The company has a quick ratio of 1.27, a current ratio of 1.91 and a debt-to-equity ratio of 0.53. AMETEK has a one year low of $63.14 and a one year high of $88.76.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.56 dividend on an annualized basis and a yield of 0.66%. AMETEK’s dividend payout ratio (DPR) is presently 17.02%.
In other AMETEK news, Director Dennis K. Williams sold 1,570 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $87.00, for a total transaction of $136,590.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Zapico sold 58,760 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $86.35, for a total transaction of $5,073,926.00. Following the sale, the insider now owns 258,226 shares of the company’s stock, valued at approximately $22,297,815.10. The disclosure for this sale can be found here. Insiders have sold a total of 73,614 shares of company stock valued at $6,314,246 in the last 90 days. 0.80% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Dudley & Shanley Inc. boosted its holdings in AMETEK by 54.4% during the 1st quarter. Dudley & Shanley Inc. now owns 51,849 shares of the technology company’s stock worth $4,302,000 after acquiring an additional 18,275 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in AMETEK by 1.5% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 39,907 shares of the technology company’s stock worth $3,311,000 after acquiring an additional 600 shares during the last quarter. Gotham Asset Management LLC boosted its holdings in AMETEK by 10.8% during the 4th quarter. Gotham Asset Management LLC now owns 172,158 shares of the technology company’s stock worth $11,655,000 after acquiring an additional 16,829 shares during the last quarter. Mawer Investment Management Ltd. boosted its holdings in AMETEK by 1.1% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,983,062 shares of the technology company’s stock worth $247,507,000 after acquiring an additional 33,839 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in AMETEK by 557.4% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 118,115 shares of the technology company’s stock worth $7,996,000 after acquiring an additional 100,147 shares during the last quarter. Institutional investors and hedge funds own 85.73% of the company’s stock.
AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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