AMETEK (NYSE:AME) Updates FY 2024 Earnings Guidance

AMETEK (NYSE:AME) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 6.770-6.820 for the period, compared to the consensus EPS 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 Analyst Weigh In

Several analysts have commented on the stock. TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Mizuho upped their price target on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Truist Financial increased their target price on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $195.00.

AMETEK Stock Performance

Shares of AME stock traded down $4.91 during trading hours on Friday, reaching $178.43. The company had a trading volume of 1,962,659 shares, compared to its average volume of 1,144,114. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The business has a fifty day moving average price of $169.17 and a 200-day moving average price of $168.99. AMETEK has a one year low of $141.26 and a one year high of $186.32. The firm has a market cap of $41.31 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 EPS. Sell-side analysts predict 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. Shareholders of record on Monday, September 16th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Monday, September 16th. AMETEK’s payout ratio is 19.51%.

Insider Transactions at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.

AMETEK Company Profile

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.