AMETEK (NYSE:AME) Updates Q2 Earnings Guidance

AMETEK (NYSE:AMEGet Rating) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $1.27-1.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.33. The company issued revenue guidance of up low to mid-single digits, compared to the consensus revenue estimate of $1.51 billion.AMETEK also updated its FY22 guidance to $5.34-5.44 EPS.

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

Shares of AME opened at $126.32 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32. The company’s fifty day simple moving average is $130.39 and its 200 day simple moving average is $135.52. AMETEK has a 1-year low of $121.80 and a 1-year high of $148.07. The company has a market cap of $29.20 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 2.49 and a beta of 1.26.

AMETEK (NYSE:AMEGet Rating) last announced its quarterly earnings data on Thursday, February 3rd. The technology company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.06. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.47 billion. AMETEK had a net margin of 17.85% and a return on equity of 17.45%. The company’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 EPS. As a group, research analysts forecast that AMETEK will post 5.4 earnings per share for the current year.

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

In related news, Director Thomas A. Amato sold 615 shares of the business’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 the SEC website. Also, Director Anthony James Conti sold 5,160 shares of the business’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $133.37, for a total transaction of $688,189.20. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. KB Financial Partners LLC bought a new stake in AMETEK during the fourth quarter worth $46,000. Sequoia Financial Advisors LLC bought a new position in shares of AMETEK in the fourth quarter worth about $247,000. Toroso Investments LLC boosted its stake in shares of AMETEK by 20.5% in the 4th 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. Forum Financial Management LP acquired a new position in AMETEK during the 4th quarter worth approximately $379,000. Finally, Stifel Financial Corp lifted its stake in AMETEK by 9.3% in the 4th quarter. Stifel Financial Corp now owns 71,189 shares of the technology company’s stock valued at $10,468,000 after purchasing an additional 6,077 shares during the last quarter. 86.72% of the stock is owned by hedge funds and other institutional investors.

About AMETEK (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.

See Also

Earnings History and Estimates for AMETEK (NYSE:AME)

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