AMETEK (NYSE:AME) Releases Q4 Earnings Guidance

AMETEK (NYSE:AME) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.81-1.86 for the period, compared to the consensus EPS estimate of $1.83. The company issued revenue guidance of up mid-single digits, compared to the consensus revenue estimate of $1.80 billion. AMETEK also updated its FY 2024 guidance to 6.770-6.820 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AME shares. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Robert W. Baird decreased their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Mizuho boosted their price target on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada reduced their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Truist Financial boosted their target price on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

AMETEK Stock Down 2.7 %

Shares of NYSE AME traded down $4.91 during midday trading on Friday, hitting $178.43. 1,962,659 shares of the stock traded hands, compared to its average volume of 1,144,114. AMETEK has a one year low of $141.26 and a one year high of $186.32. The business has a 50 day moving average price of $169.17 and a two-hundred day moving average price of $168.92. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The company has a market cap of $41.31 billion, a PE ratio of 31.09, a P/E/G ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. AMETEK’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 EPS. On average, equities analysts predict that AMETEK will post 6.76 EPS for the current year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. AMETEK’s dividend payout ratio (DPR) is currently 19.51%.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now owns 23,349 shares in the company, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

AMETEK Company Profile

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.