Q2 2022 EPS Estimates for AMETEK, Inc. Reduced by Oppenheimer (NYSE:AME)

AMETEK, Inc. (NYSE:AME – Get Rating) – Research analysts at Oppenheimer lowered their Q2 2022 EPS estimates for shares of AMETEK in a report released on Tuesday, May 10th. Oppenheimer analyst C. Glynn now expects that the technology company will post earnings of $1.29 per share for the quarter, down from their prior forecast of $1.34.

AMETEK (NYSE:AME – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The technology company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.06. AMETEK had a net margin of 18.02% and a return on equity of 17.82%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm posted $1.07 earnings per share. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year.

AME has been the subject of a number of other reports. KeyCorp reduced their price objective on shares of AMETEK from $155.00 to $145.00 in a research report on Wednesday, May 4th. Robert W. Baird reduced their target price on shares of AMETEK from $156.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday. Zacks Investment Research upgraded shares of AMETEK from a “sell” rating to a “hold” rating and set a $134.00 target price for the company in a research report on Tuesday, April 19th. Morgan Stanley reduced their target price 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, StockNews.com began coverage on shares of AMETEK in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $147.60.

NYSE:AME opened at $120.41 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 1.43. The company has a fifty day moving average of $129.35 and a two-hundred day moving average of $135.02. The stock has a market capitalization of $27.80 billion, a PE ratio of 26.88, a P/E/G ratio of 2.37 and a beta of 1.26. AMETEK has a fifty-two week low of $118.28 and a fifty-two week high of $148.07.

A number of institutional investors have recently modified their holdings of AME. CVA Family Office LLC purchased a new position in AMETEK in the fourth quarter worth approximately $25,000. Gryphon Financial Partners LLC acquired a new stake in AMETEK during the first quarter worth approximately $25,000. Quent Capital LLC raised its holdings in AMETEK by 177.8% during the first quarter. Quent Capital LLC now owns 200 shares of the technology company’s stock worth $27,000 after purchasing an additional 128 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in AMETEK during the first quarter worth approximately $29,000. Finally, Icapital Wealth LLC acquired a new stake in AMETEK during the first quarter worth approximately $32,000. Institutional investors own 86.72% of the company’s stock.

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

AMETEK announced that its board has authorized a share repurchase program on Friday, May 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Friday, June 10th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Thursday, June 9th. AMETEK’s dividend payout ratio (DPR) is presently 19.64%.

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.

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