Equities analysts expect AMTEK, Inc. (NYSE:AME) to announce sales of $1.04 billion for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for AMTEK’s earnings, with the lowest sales estimate coming in at $1.03 billion and the highest estimate coming in at $1.05 billion. AMTEK reported sales of $945.03 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10%. The business is scheduled to issue its next earnings report before the market opens on Thursday, November 2nd.
On average, analysts expect that AMTEK will report full year sales of $1.04 billion for the current financial year, with estimates ranging from $4.14 billion to $4.23 billion. For the next year, analysts anticipate that the company will post sales of $4.44 billion per share, with estimates ranging from $4.35 billion to $4.50 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow AMTEK.
AMTEK (NYSE:AME) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. AMTEK’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share.
AME has been the topic of several recent analyst reports. Zacks Investment Research raised AMTEK from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Monday, August 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 price objective on shares of AMTEK in a research note on Thursday, August 3rd. BidaskClub downgraded AMTEK from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Stifel Nicolaus set a $70.00 price objective on AMTEK and gave the stock a “buy” rating in a research note on Friday, October 6th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $70.00 price objective on shares of AMTEK in a research note on Friday, October 6th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $69.00.
AMTEK (AME) traded down 0.06% on Tuesday, hitting $69.19. 1,006,295 shares of the company traded hands. AMTEK has a 1-year low of $43.98 and a 1-year high of $69.42. The firm’s 50 day moving average price is $66.42 and its 200 day moving average price is $62.17. The firm has a market capitalization of $15.97 billion, a PE ratio of 30.36 and a beta of 1.31.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Thursday, September 14th. AMTEK’s payout ratio is currently 15.79%.
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In related news, Director Elizebeth R. Varet sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $66.30, for a total transaction of $198,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas M. Montgomery sold 1,500 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $64.49, for a total value of $96,735.00. Following the transaction, the vice president now owns 21,747 shares of the company’s stock, valued at approximately $1,402,464.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,255 shares of company stock valued at $11,483,064. 2.10% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of AMTEK by 1.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 633,825 shares of the technology company’s stock worth $38,391,000 after buying an additional 9,831 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of AMTEK by 22,076.4% in the 2nd quarter. Janus Henderson Group PLC now owns 6,403,670 shares of the technology company’s stock worth $387,870,000 after buying an additional 6,374,794 shares during the period. State Treasurer State of Michigan lifted its holdings in shares of AMTEK by 0.3% in the 2nd quarter. State Treasurer State of Michigan now owns 75,584 shares of the technology company’s stock worth $4,578,000 after buying an additional 200 shares during the period. Keybank National Association OH lifted its holdings in shares of AMTEK by 4.0% in the 2nd quarter. Keybank National Association OH now owns 4,742 shares of the technology company’s stock worth $287,000 after buying an additional 181 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in shares of AMTEK by 504.5% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 37,307 shares of the technology company’s stock worth $2,260,000 after buying an additional 31,135 shares during the period. Institutional investors and hedge funds own 85.60% of the company’s stock.
AMTEK Company Profile
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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