Atmus Filtration Technologies (NYSE:ATMU) Releases Earnings Results, Beats Estimates By $0.13 EPS

Atmus Filtration Technologies (NYSE:ATMU) announced its earnings results on Friday. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.13, Briefing.com reports. Atmus Filtration Technologies had a net margin of 10.03% and a return on equity of 314.52%. The company had revenue of $432.60 million for the quarter, compared to analyst estimates of $418.33 million. During the same period in the prior year, the business earned $0.63 earnings per share. Atmus Filtration Technologies’s quarterly revenue was up 4.6% on a year-over-year basis. Atmus Filtration Technologies updated its FY24 guidance to $2.15-2.40 EPS and its FY 2024 guidance to 2.150-2.400 EPS.

Atmus Filtration Technologies Trading Up 3.1 %

NYSE:ATMU traded up $0.93 during trading hours on Friday, hitting $30.91. The stock had a trading volume of 2,804,018 shares, compared to its average volume of 1,169,488. Atmus Filtration Technologies has a one year low of $18.21 and a one year high of $33.70. The company has a debt-to-equity ratio of 4.83, a quick ratio of 1.27 and a current ratio of 2.00. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 3.67 and a beta of 1.74. The business’s 50 day moving average is $29.39 and its 200-day moving average is $27.94.

Atmus Filtration Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.65%. The ex-dividend date is Thursday, August 1st. Atmus Filtration Technologies’s payout ratio is presently 10.20%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ATMU. Robert W. Baird cut their price objective on shares of Atmus Filtration Technologies from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, July 19th. Wells Fargo & Company cut their price objective on shares of Atmus Filtration Technologies from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. The Goldman Sachs Group increased their price objective on shares of Atmus Filtration Technologies from $30.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Atmus Filtration Technologies from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $35.60.

About Atmus Filtration Technologies

Atmus Filtration Technologies Inc designs, manufactures, and sells filtration products under the Fleetguard brand name in North America, Europe, South America, Asia, Australia, Africa, and internationally. The company offers fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters, coolants, and fuel additives, as well as other chemicals; and fuel water separators and other filtration systems to original equipment manufacturers, dealers/distributors, and end-users.