AMETEK (NYSE:AME) Updates Q4 Earnings Guidance

AMETEK (NYSE:AMEGet Free Report) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.81-1.86 for the period, compared to the consensus 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.

AMETEK Price Performance

Shares of NYSE:AME opened at $179.95 on Thursday. The company has a market cap of $41.65 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 2.77 and a beta of 1.17. The business has a 50 day moving average price of $168.59 and a 200 day moving average price of $168.90. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. AMETEK has a twelve month low of $136.89 and a twelve month high of $186.32.

AMETEK (NYSE:AMEGet Free Report) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.02. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. AMETEK’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.57 earnings per share. Research analysts predict that AMETEK will post 6.76 earnings per share 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 given a $0.28 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.62%. AMETEK’s dividend payout ratio is 19.68%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AME shares. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Robert W. Baird decreased their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Mizuho upped their target price on AMETEK from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Truist Financial increased their price objective on shares of AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $193.29.

Check Out Our Latest Stock Report on AMETEK

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by insiders.

About AMETEK

(Get Free Report)

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.

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Earnings History and Estimates for AMETEK (NYSE:AME)

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