AMETEK (NYSE:AME) Releases FY24 Earnings Guidance

AMETEK (NYSE:AME) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $6.74-$6.86 for the period, compared to the consensus earnings per share estimate of $6.84. AMETEK also updated its Q2 guidance to $1.63-$1.65 EPS.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of AMETEK from a buy rating to a hold rating in a research note on Saturday, March 2nd. Truist Financial started coverage on AMETEK in a research report on Thursday, March 14th. They issued a buy rating and a $210.00 price target for the company. Royal Bank of Canada dropped 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. Finally, KeyCorp lifted their price target on AMETEK from $182.00 to $205.00 and gave the stock an overweight rating in a report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, AMETEK has a consensus rating of Moderate Buy and a consensus price target of $180.78.

AMETEK Stock Up 2.0 %

AMETEK stock traded up $3.22 during trading on Friday, reaching $166.56. The stock had a trading volume of 2,065,100 shares, compared to its average volume of 956,196. AMETEK has a 52-week low of $136.89 and a 52-week high of $186.32. The business has a 50 day moving average price of $179.64 and a 200 day moving average price of $166.05. The company has a quick ratio of 0.59, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The stock has a market cap of $38.51 billion, a PE ratio of 29.27, a P/E/G ratio of 2.66 and a beta of 1.21.

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

AMETEK Increases Dividend

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

Insider Buying and Selling at AMETEK

In other AMETEK news, CFO William Joseph Burke sold 17,437 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the completion of the transaction, the chief financial officer now owns 101,709 shares in the company, valued at approximately $17,138,983.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO William Joseph Burke sold 17,437 shares of AMETEK stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $168.51, for a total value of $2,938,308.87. Following the sale, the chief financial officer now directly owns 101,709 shares in the company, valued at $17,138,983.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 sale, the director now directly owns 10,240 shares in the company, valued at approximately $1,863,680. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,881 shares of company stock worth $10,689,758. 0.61% of the stock is currently owned by insiders.

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.