AMETEK (NYSE:AME) Issues Q2 Earnings Guidance

AMETEK (NYSE:AME) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $1.63-$1.65 for the period, compared to the consensus EPS estimate of $1.67. AMETEK also updated its FY24 guidance to $6.74-$6.86 EPS.

AMETEK Stock Performance

Shares of AME traded up $3.22 during mid-day trading on Friday, hitting $166.56. 2,065,100 shares of the company’s stock were exchanged, compared to its average volume of 956,196. The company has a current ratio of 1.11, a quick ratio of 0.59 and a debt-to-equity ratio of 0.21. AMETEK has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The business’s 50 day moving average is $179.64 and its two-hundred day moving average is $166.05. The firm has a market capitalization of $38.51 billion, a P/E ratio of 29.27, a P/E/G ratio of 2.66 and a beta of 1.21.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the business posted $1.49 EPS. The company’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts expect that AMETEK will post 6.81 earnings per share for the current year.

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 7th. AMETEK’s payout ratio is 19.68%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. StockNews.com cut AMETEK from a buy rating to a hold rating in a research report on Saturday, March 2nd. Royal Bank of Canada reduced their target price on AMETEK from $192.00 to $188.00 and set an outperform rating for the company in a report on Wednesday, February 7th. Truist Financial assumed coverage on shares of AMETEK in a research report on Thursday, March 14th. They set a buy rating and a $210.00 target price on the stock. Finally, KeyCorp increased their price target on shares of AMETEK from $182.00 to $205.00 and gave the company an overweight rating in a report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $180.78.

Insider Buying and Selling

In other AMETEK news, Director Thomas A. Amato sold 780 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the completion of the sale, the director now owns 10,240 shares of the company’s stock, valued at $1,863,680. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Thomas A. Amato sold 780 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following the completion of the sale, the director now owns 10,240 shares of the company’s stock, valued at $1,863,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,400 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total transaction of $252,826.00. Following the completion of the transaction, the director now directly owns 28,054 shares in the company, valued at approximately $5,066,271.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,881 shares of company stock valued at $10,689,758. Insiders own 0.61% of the company’s stock.

AMETEK Company Profile

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.