AMETEK (NYSE:AME) Updates FY22 Earnings Guidance

AMETEK (NYSE:AMEGet Rating) updated its FY22 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $5.34-5.44 for the period, compared to the Thomson Reuters consensus estimate of $5.43. The company issued revenue guidance of up high-single digits, compared to the consensus revenue estimate of $6.11 billion.AMETEK also updated its Q2 guidance to $1.27-1.30 EPS.

AME opened at $126.32 on Tuesday. The stock has a market cap of $29.20 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 2.49 and a beta of 1.26. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. AMETEK has a twelve month low of $121.80 and a twelve month high of $148.07. The company has a fifty day moving average of $130.39 and a 200-day moving average of $135.52.

AMETEK (NYSE:AMEGet Rating) last announced its earnings results on Thursday, February 3rd. The technology company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.31 by $0.06. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.47 billion. AMETEK had a return on equity of 17.45% and a net margin of 17.85%. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 EPS. Sell-side analysts anticipate that AMETEK will post 5.4 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Thursday, March 10th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, March 9th. This is a positive change from AMETEK’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.70%. AMETEK’s dividend payout ratio is currently 20.71%.

Several brokerages have recently weighed in on AME. KeyCorp dropped their price objective on shares of AMETEK from $160.00 to $155.00 and set an overweight rating on the stock in a report on Friday, March 18th. StockNews.com started coverage on AMETEK in a report on Thursday, March 31st. They set a hold rating for the company. Morgan Stanley reduced their price target on shares of AMETEK from $159.00 to $158.00 and set an overweight rating for the company in a research report on Friday, January 14th. Finally, Zacks Investment Research upgraded shares of AMETEK from a sell rating to a hold rating and set a $134.00 price objective on the stock in a report on Tuesday, April 19th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $150.30.

In other AMETEK news, Director Thomas A. Amato sold 615 shares of the firm’s stock in a transaction on Monday, March 28th. The stock was sold at an average price of $133.03, for a total value of $81,813.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony James Conti sold 5,160 shares of the business’s stock in a transaction on Friday, March 25th. The shares were sold at an average price of $133.37, for a total value of $688,189.20. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. KB Financial Partners LLC bought a new stake in AMETEK during the 4th quarter valued at $46,000. Toroso Investments LLC grew its position in shares of AMETEK by 20.5% in the fourth quarter. Toroso Investments LLC now owns 2,444 shares of the technology company’s stock valued at $359,000 after purchasing an additional 415 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of AMETEK during the 4th quarter valued at $247,000. Forum Financial Management LP bought a new stake in shares of AMETEK during the 4th quarter valued at $379,000. Finally, California State Teachers Retirement System lifted its holdings in AMETEK by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 409,724 shares of the technology company’s stock worth $60,246,000 after purchasing an additional 5,877 shares in the last quarter. Institutional investors and hedge funds own 86.72% of the company’s stock.

AMETEK Company Profile (Get Rating)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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Earnings History and Estimates for AMETEK (NYSE:AME)

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