Atmus Filtration Technologies (NYSE:ATMU) Releases Earnings Results, Beats Estimates By $0.13 EPS

Atmus Filtration Technologies (NYSE:ATMU) released its quarterly earnings results on Friday. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13, Briefing.com reports. The business had revenue of $432.60 million for the quarter, compared to the consensus estimate of $418.33 million. Atmus Filtration Technologies had a net margin of 10.03% and a return on equity of 314.52%. Atmus Filtration Technologies’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. Atmus Filtration Technologies updated its FY24 guidance to $2.15-2.40 EPS and its FY 2024 guidance to 2.150-2.400 EPS.

Atmus Filtration Technologies Stock Performance

NYSE ATMU traded up $0.93 during midday trading on Friday, hitting $30.91. The company had a trading volume of 2,804,018 shares, compared to its average volume of 1,169,488. The company has a quick ratio of 1.27, a current ratio of 2.00 and a debt-to-equity ratio of 4.83. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 3.67 and a beta of 1.74. The firm has a fifty day simple moving average of $29.39 and a two-hundred day simple moving average of $27.94. Atmus Filtration Technologies has a fifty-two week low of $18.21 and a fifty-two week high of $33.70.

Atmus Filtration Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $0.20 annualized dividend and a yield of 0.65%. Atmus Filtration Technologies’s dividend payout ratio is 10.20%.

Wall Street Analyst Weigh In

Several research analysts recently commented on ATMU shares. The Goldman Sachs Group lifted their target price on shares of Atmus Filtration Technologies from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Wells Fargo & Company dropped their target price on shares of Atmus Filtration Technologies from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Robert W. Baird dropped their target price on shares of Atmus Filtration Technologies from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Atmus Filtration Technologies from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Atmus Filtration Technologies has an average rating of “Buy” and an average target price of $35.60.

Atmus Filtration Technologies Company Profile

Atmus Filtration Technologies Inc designs, manufactures, and sells filtration products under the Fleetguard brand name in North America, Europe, South America, Asia, Australia, Africa, and internationally. The company offers fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters, coolants, and fuel additives, as well as other chemicals; and fuel water separators and other filtration systems to original equipment manufacturers, dealers/distributors, and end-users.