AMETEK (NYSE:AME) Updates FY 2024 Earnings Guidance

AMETEK (NYSE:AME) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 6.770-6.820 for the period, compared to the consensus earnings per share estimate of 6.760. The company issued revenue guidance of $6.9 billion-$7.1 billion, compared to the consensus revenue estimate of $7.0 billion. AMETEK also updated its Q4 guidance to $1.81-1.86 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AME. Truist Financial increased their price target on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday. Royal Bank of Canada lowered their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Robert W. Baird lowered their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $195.00.

AMETEK Stock Performance

Shares of AME traded down $4.91 on Friday, reaching $178.43. 1,962,659 shares of the company’s stock traded hands, compared to its average volume of 1,144,114. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The stock has a market cap of $41.31 billion, a PE ratio of 31.09, a PEG ratio of 2.77 and a beta of 1.17. The stock’s 50 day simple moving average is $169.17 and its two-hundred day simple moving average is $168.99. AMETEK has a 52-week low of $141.26 and a 52-week high of $186.32.

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

AMETEK Announces Dividend

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

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.

About AMETEK

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.