Wall Street brokerages predict that Applied Materials, Inc. (NASDAQ:AMAT) will report earnings per share (EPS) of $1.50 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Applied Materials’ earnings, with the lowest EPS estimate coming in at $1.50 and the highest estimate coming in at $1.51. Applied Materials reported earnings per share of $0.89 during the same quarter last year, which indicates a positive year over year growth rate of 68.5%. The business is expected to issue its next earnings results on Thursday, May 13th.
According to Zacks, analysts expect that Applied Materials will report full year earnings of $5.98 per share for the current financial year, with EPS estimates ranging from $5.89 to $6.09. For the next financial year, analysts expect that the company will report earnings of $6.51 per share, with EPS estimates ranging from $5.66 to $7.18. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Applied Materials.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Wednesday, February 17th. The manufacturing equipment provider reported $1.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.11. Applied Materials had a return on equity of 40.65% and a net margin of 21.04%. The business had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $4.98 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share.
AMAT has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Applied Materials from $133.00 to $151.00 and gave the stock a “buy” rating in a report on Tuesday, April 13th. Royal Bank of Canada upped their price objective on Applied Materials from $95.00 to $140.00 in a report on Friday, February 19th. JPMorgan Chase & Co. upped their price objective on Applied Materials from $88.00 to $146.00 and gave the stock an “overweight” rating in a report on Friday, February 19th. Zacks Investment Research lowered Applied Materials from a “buy” rating to a “hold” rating and set a $135.00 price objective on the stock. in a report on Wednesday, April 21st. Finally, B. Riley upped their price objective on Applied Materials from $150.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, April 5th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $144.08.
In related news, CEO Gary E. Dickerson sold 105,184 shares of the company’s stock in a transaction that occurred on Friday, April 9th. The shares were sold at an average price of $140.00, for a total transaction of $14,725,760.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Iannotti sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 31st. The stock was sold at an average price of $131.95, for a total transaction of $1,979,250.00. The disclosure for this sale can be found here. Insiders sold 170,184 shares of company stock worth $23,752,510 over the last 90 days. Company insiders own 0.41% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC increased its position in Applied Materials by 1.3% during the first quarter. Global Retirement Partners LLC now owns 6,254 shares of the manufacturing equipment provider’s stock worth $836,000 after purchasing an additional 82 shares during the last quarter. Highland Private Wealth Management grew its stake in Applied Materials by 1.7% during the first quarter. Highland Private Wealth Management now owns 5,116 shares of the manufacturing equipment provider’s stock worth $683,000 after buying an additional 87 shares during the period. Johanson Financial Advisors Inc. grew its stake in Applied Materials by 2.2% during the first quarter. Johanson Financial Advisors Inc. now owns 3,974 shares of the manufacturing equipment provider’s stock worth $533,000 after buying an additional 87 shares during the period. Prestige Wealth Management Group LLC grew its stake in Applied Materials by 42.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 297 shares of the manufacturing equipment provider’s stock worth $25,000 after buying an additional 88 shares during the period. Finally, Sandy Spring Bank grew its stake in Applied Materials by 16.9% during the first quarter. Sandy Spring Bank now owns 624 shares of the manufacturing equipment provider’s stock worth $84,000 after buying an additional 90 shares during the period. 78.80% of the stock is owned by hedge funds and other institutional investors.
Shares of Applied Materials stock traded down $4.13 during trading hours on Tuesday, hitting $128.72. 14,184,086 shares of the company were exchanged, compared to its average volume of 9,499,951. Applied Materials has a 1 year low of $48.53 and a 1 year high of $146.00. The company has a current ratio of 3.00, a quick ratio of 2.12 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average of $130.66 and a 200-day moving average of $101.00. The stock has a market capitalization of $118.12 billion, a price-to-earnings ratio of 33.89, a P/E/G ratio of 2.06 and a beta of 1.48.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, May 27th will be given a $0.24 dividend. This is an increase from Applied Materials’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Wednesday, May 26th. Applied Materials’s dividend payout ratio is currently 21.10%.
About Applied Materials
Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.
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