AMETEK (NYSE:AME) Issues FY 2022 Earnings Guidance

AMETEK (NYSE:AMEGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $5.46-$5.54 for the period, compared to the consensus EPS estimate of $5.43. The company issued revenue guidance of -. AMETEK also updated its FY22 guidance to $5.46-5.54 EPS.

AMETEK Stock Up 0.7 %

Shares of AMETEK stock traded up $0.87 during midday trading on Friday, hitting $126.25. The company’s stock had a trading volume of 789,817 shares, compared to its average volume of 1,076,158. The firm has a market capitalization of $29.15 billion, a P/E ratio of 26.86, a PEG ratio of 2.53 and a beta of 1.26. The stock has a 50-day simple moving average of $115.29 and a 200-day simple moving average of $124.48. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.31. AMETEK has a 1-year low of $106.17 and a 1-year high of $148.07.

AMETEK (NYSE:AMEGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.09. AMETEK had a return on equity of 18.20% and a net margin of 18.49%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the company earned $1.15 earnings per share. AMETEK’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, sell-side analysts expect that AMETEK will post 5.5 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, September 14th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.70%. AMETEK’s dividend payout ratio is 18.72%.

AMETEK declared that its board has authorized a stock buyback plan on Friday, May 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

AME has been the topic of several recent research reports. Loop Capital cut their target price on AMETEK from $170.00 to $155.00 and set a buy rating on the stock in a report on Tuesday, July 19th. Mizuho lifted their price objective on AMETEK from $135.00 to $140.00 and gave the stock a buy rating in a research note on Wednesday. KeyCorp decreased their target price on AMETEK from $155.00 to $145.00 in a research report on Wednesday, May 4th. Robert W. Baird reduced their target price on AMETEK from $156.00 to $140.00 and set a neutral rating on the stock in a report on Tuesday, May 10th. Finally, Morgan Stanley boosted their price objective on shares of AMETEK from $135.00 to $145.00 and gave the stock an overweight rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, AMETEK has an average rating of Moderate Buy and a consensus target price of $147.13.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AME. EP Wealth Advisors LLC boosted its position in shares of AMETEK by 5.4% during the 1st quarter. EP Wealth Advisors LLC now owns 4,749 shares of the technology company’s stock worth $632,000 after acquiring an additional 242 shares in the last quarter. Toroso Investments LLC boosted its position in shares of AMETEK by 9.0% during the 1st quarter. Toroso Investments LLC now owns 2,663 shares of the technology company’s stock worth $355,000 after acquiring an additional 219 shares in the last quarter. Capital Research Global Investors boosted its position in shares of AMETEK by 0.3% during the 1st quarter. Capital Research Global Investors now owns 329,807 shares of the technology company’s stock worth $43,943,000 after acquiring an additional 1,011 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of AMETEK by 4.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 3,840 shares of the technology company’s stock worth $511,000 after acquiring an additional 152 shares in the last quarter. Finally, Walleye Capital LLC boosted its position in shares of AMETEK by 92.6% during the 1st quarter. Walleye Capital LLC now owns 218,256 shares of the technology company’s stock worth $29,067,000 after acquiring an additional 104,941 shares in the last quarter. 86.72% of the stock is owned by institutional investors.

AMETEK Company Profile

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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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