Atmus Filtration Technologies (NYSE:ATMU) Releases FY24 Earnings Guidance

Atmus Filtration Technologies (NYSE:ATMU) issued an update on its FY24 earnings guidance on Friday morning. The company provided EPS guidance of $2.15-2.40 for the period, compared to the consensus EPS estimate of $2.24. The company issued revenue guidance of $1.625-1.675 billion, compared to the consensus revenue estimate of $1.65 billion. Atmus Filtration Technologies also updated 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 company had a trading volume of 2,804,018 shares, compared to its average volume of 1,169,488. Atmus Filtration Technologies has a 52 week low of $18.21 and a 52 week high of $33.70. The company has a market capitalization of $2.58 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 3.67 and a beta of 1.74. The company has a debt-to-equity ratio of 4.83, a current ratio of 2.00 and a quick ratio of 1.27. The stock has a 50-day moving average price of $29.39 and a 200 day moving average price of $27.94.

Atmus Filtration Technologies (NYSE:ATMU) last announced its earnings results on Friday, August 2nd. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13. The firm had revenue of $432.60 million for the quarter, compared to analysts’ expectations of $418.33 million. Atmus Filtration Technologies had a net margin of 10.03% and a return on equity of 314.52%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. On average, equities research analysts predict that Atmus Filtration Technologies will post 2.26 EPS for the current fiscal year.

Atmus Filtration Technologies Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently issued reports on ATMU. JPMorgan Chase & Co. lifted their price target on Atmus Filtration Technologies from $36.00 to $38.00 and gave the stock an overweight rating in a research report on Monday, April 15th. Wells Fargo & Company lowered their price target on Atmus Filtration Technologies from $37.00 to $36.00 and set an overweight rating for the company in a research report on Monday, May 6th. The Goldman Sachs Group lifted their price target on Atmus Filtration Technologies from $30.00 to $34.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Finally, Robert W. Baird decreased their target price on Atmus Filtration Technologies from $37.00 to $36.00 and set an outperform rating for the company in a research report on Friday, July 19th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of Buy and an average target price of $35.60.

Atmus Filtration Technologies Company Profile

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.