Atmus Filtration Technologies (NYSE:ATMU) Releases FY24 Earnings Guidance

Atmus Filtration Technologies (NYSE:ATMU) updated its FY24 earnings guidance on Friday. The company provided earnings per share guidance of $2.35-2.50 for the period, compared to the consensus earnings per share estimate of $2.34. The company issued revenue guidance of $1.65-1.675 billion, compared to the consensus revenue estimate of $1.66 billion. Atmus Filtration Technologies also updated its FY 2024 guidance to 2.350-2.500 EPS.

Atmus Filtration Technologies Stock Performance

Shares of ATMU stock opened at $44.27 on Friday. The stock’s 50-day moving average price is $37.72 and its 200 day moving average price is $32.98. The company has a quick ratio of 1.30, a current ratio of 2.07 and a debt-to-equity ratio of 3.28. The stock has a market capitalization of $3.69 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 4.74 and a beta of 1.68. Atmus Filtration Technologies has a 52-week low of $18.73 and a 52-week high of $44.66.

Atmus Filtration Technologies (NYSE:ATMU) last released its quarterly earnings results on Friday, November 8th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.52 by $0.09. Atmus Filtration Technologies had a return on equity of 187.12% and a net margin of 10.52%. The business had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $403.40 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts forecast that Atmus Filtration Technologies will post 2.34 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Thursday, October 31st. Atmus Filtration Technologies’s payout ratio is 9.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ATMU shares. Robert W. Baird raised their price objective on shares of Atmus Filtration Technologies from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price target on Atmus Filtration Technologies from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. upped their price objective on Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Northland Securities raised their target price on Atmus Filtration Technologies from $38.00 to $49.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $42.80.

Insider Transactions at Atmus Filtration Technologies

In other news, Director Gretchen R. Haggerty bought 5,849 shares of the stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $34.20 per share, with a total value of $200,035.80. Following the completion of the acquisition, the director now owns 19,882 shares of the company’s stock, valued at approximately $679,964.40. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.43% of the company’s stock.

Atmus Filtration Technologies Company Profile

Atmus Filtration Technologies Inc designs, manufactures, and sells filtration products under the Fleetguard brand name in North America, Europe, South America, Asia, Australia, Africa, and internationally. The company offers fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters, coolants, and fuel additives, as well as other chemicals; and fuel water separators and other filtration systems to original equipment manufacturers, dealers/distributors, and end-users.