Equities analysts expect AMETEK, Inc. (NYSE:AME) to report $1.12 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for AMETEK’s earnings, with the highest sales estimate coming in at $1.15 billion and the lowest estimate coming in at $1.05 billion. AMETEK posted sales of $1.01 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 10.9%. The business is scheduled to report its next quarterly earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that AMETEK will report full-year sales of $4.65 billion for the current year, with estimates ranging from $4.60 billion to $4.71 billion. For the next year, analysts forecast that the business will post sales of $4.88 billion per share, with estimates ranging from $4.82 billion to $4.94 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow AMETEK.
AMETEK (NYSE:AME) last announced its earnings results on Thursday, February 1st. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. AMETEK had a net margin of 15.85% and a return on equity of 16.39%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 earnings per share.
AME has been the subject of several recent research reports. ValuEngine upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. BMO Capital Markets boosted their target price on shares of AMETEK from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Wednesday, April 11th. Morgan Stanley boosted their target price on shares of AMETEK from $67.00 to $76.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, Wells Fargo set a $88.00 target price on shares of AMETEK and gave the company a “buy” rating in a research report on Thursday, January 18th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. AMETEK presently has an average rating of “Buy” and a consensus target price of $81.58.
In other AMETEK news, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $78.03, for a total value of $234,090.00. Following the completion of the transaction, the director now directly owns 111,880 shares in the company, valued at $8,729,996.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Wesley Hardin sold 25,965 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $78.50, for a total transaction of $2,038,252.50. Following the completion of the transaction, the insider now owns 85,663 shares of the company’s stock, valued at $6,724,545.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,604 shares of company stock valued at $5,976,638. Company insiders own 2.00% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of AME. Stifel Financial Corp boosted its position in shares of AMETEK by 29.3% in the third quarter. Stifel Financial Corp now owns 16,188 shares of the technology company’s stock worth $1,071,000 after purchasing an additional 3,667 shares during the period. Neuberger Berman Group LLC boosted its position in shares of AMETEK by 42.3% during the third quarter. Neuberger Berman Group LLC now owns 309,490 shares of the technology company’s stock worth $20,439,000 after acquiring an additional 91,952 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of AMETEK by 8.7% during the third quarter. Parametric Portfolio Associates LLC now owns 315,314 shares of the technology company’s stock worth $20,823,000 after acquiring an additional 25,309 shares during the last quarter. Atlantic Trust Group LLC boosted its position in shares of AMETEK by 3.7% during the third quarter. Atlantic Trust Group LLC now owns 224,437 shares of the technology company’s stock worth $14,821,000 after acquiring an additional 8,049 shares during the last quarter. Finally, DnB Asset Management AS boosted its position in shares of AMETEK by 10.7% during the fourth quarter. DnB Asset Management AS now owns 38,158 shares of the technology company’s stock worth $2,765,000 after acquiring an additional 3,700 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.
Shares of NYSE AME opened at $75.60 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.70 and a quick ratio of 1.22. The company has a market cap of $17,336.21, a P/E ratio of 28.97, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. AMETEK has a 12-month low of $53.32 and a 12-month high of $79.32.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Friday, March 16th were given a $0.14 dividend. This is a positive change from AMETEK’s previous quarterly dividend of $0.09. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Thursday, March 15th. AMETEK’s dividend payout ratio is presently 21.46%.
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AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.
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