AMETEK (AME) Set to Announce Earnings on Thursday

AMETEK (NYSE:AME) is scheduled to announce its earnings results before the market opens on Thursday, August 1st. Analysts expect the company to announce earnings of $1.64 per share for the quarter. AMETEK has set its Q2 guidance at $1.63-$1.65 EPS and its FY24 guidance at $6.74-$6.86 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the firm earned $1.49 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, analysts expect AMETEK to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

AMETEK Price Performance

Shares of NYSE:AME opened at $172.35 on Wednesday. AMETEK has a one year low of $136.89 and a one year high of $186.32. The stock has a fifty day moving average of $169.59 and a 200-day moving average of $172.66. The company has a market capitalization of $39.89 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 2.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.28 per share. The ex-dividend date was Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AME shares. Robert W. Baird cut their price objective on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Truist Financial cut their price objective on AMETEK from $210.00 to $204.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Wednesday, May 22nd. Finally, StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $181.20.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the transaction, the director now directly owns 26,249 shares in the company, valued at $4,467,579.80. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. 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; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.