AMETEK (NYSE:AME) Updates Q4 2024 Earnings Guidance

AMETEK (NYSE:AME) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.810-1.860 for the period, compared to the consensus earnings per share estimate of 1.840. The company issued revenue guidance of -. AMETEK also updated its FY 2024 guidance to 6.770-6.820 EPS.

AMETEK Stock Performance

Shares of AMETEK stock traded down $4.91 during trading on Friday, hitting $178.43. 1,962,659 shares of the company’s stock were exchanged, compared to its average volume of 1,144,114. AMETEK has a 52-week low of $141.26 and a 52-week high of $186.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The business has a 50-day simple moving average of $169.17 and a 200-day simple moving average of $168.99. The stock has a market capitalization of $41.31 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.64 earnings per share. On average, research analysts forecast that AMETEK will post 6.76 EPS for the current year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. AMETEK’s payout ratio is presently 19.51%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AME. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. Robert W. Baird decreased their target price on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Truist Financial upped their price objective on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday. Finally, StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $195.00.

Insider Buying and Selling

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the sale, the director now directly owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.61% of the stock is 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.