AMETEK (NYSE:AME) Releases Earnings Results, Beats Expectations By $0.06 EPS


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AMETEK (NYSE:AME) posted its earnings results on Tuesday. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.06, MarketWatch Earnings reports. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. AMETEK had a net margin of 18.77% and a return on equity of 16.29%. AMETEK’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.02 EPS.

AME stock traded up $1.65 during mid-day trading on Tuesday, hitting $135.96. The stock had a trading volume of 27,708 shares, compared to its average volume of 1,001,698. The firm has a market capitalization of $31.38 billion, a P/E ratio of 35.90, a P/E/G ratio of 3.73 and a beta of 1.36. The company has a current ratio of 1.88, a quick ratio of 1.47 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $129.29 and a 200 day simple moving average of $120.04. AMETEK has a 52 week low of $75.22 and a 52 week high of $137.84.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Monday, March 15th were issued a $0.20 dividend. This is a positive change from AMETEK’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Friday, March 12th. AMETEK’s dividend payout ratio (DPR) is currently 19.09%.

In related news, insider John Wesley Hardin sold 4,148 shares of AMETEK stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $124.00, for a total transaction of $514,352.00. Following the sale, the insider now directly owns 56,085 shares in the company, valued at approximately $6,954,540. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Anthony James Conti sold 740 shares of AMETEK stock in a transaction that occurred on Thursday, March 25th. The stock was sold at an average price of $121.43, for a total transaction of $89,858.20. Following the sale, the director now owns 25,538 shares in the company, valued at $3,101,079.34. The disclosure for this sale can be found here. Insiders have sold a total of 37,128 shares of company stock worth $4,670,688 over the last ninety days. 0.74% of the stock is currently owned by insiders.

A number of research firms have recently issued reports on AME. Wells Fargo & Company raised their target price on shares of AMETEK from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, April 26th. DA Davidson reiterated a “buy” rating on shares of AMETEK in a research note on Tuesday, February 9th. KeyCorp lifted their price objective on shares of AMETEK from $140.00 to $141.00 and gave the stock an “overweight” rating in a research note on Monday, April 19th. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Friday, April 16th. Finally, Morgan Stanley lifted their price objective on shares of AMETEK from $133.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, April 19th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. AMETEK has a consensus rating of “Buy” and a consensus price target of $128.86.

AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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Earnings History for AMETEK (NYSE:AME)

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