Atmus Filtration Technologies (NYSE:ATMU) Updates FY 2024 Earnings Guidance

Atmus Filtration Technologies (NYSE:ATMU) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.150-2.400 for the period, compared to the consensus earnings per share estimate of 2.160. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. Atmus Filtration Technologies also updated its FY24 guidance to $2.15-2.40 EPS.

Atmus Filtration Technologies Stock Up 3.1 %

Shares of NYSE:ATMU traded up $0.93 on Friday, reaching $30.91. The company had a trading volume of 2,804,018 shares, compared to its average volume of 1,169,488. Atmus Filtration Technologies has a 52-week low of $18.21 and a 52-week high of $33.70. The firm’s 50 day simple moving average is $29.39 and its 200-day simple moving average is $27.94. The firm has a market capitalization of $2.58 billion, a PE ratio of 15.76, a PEG ratio of 3.67 and a beta of 1.74. The company has a current ratio of 2.00, a quick ratio of 1.27 and a debt-to-equity ratio of 4.83.

Atmus Filtration Technologies (NYSE:ATMU) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13. 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 return on equity of 314.52% and a net margin of 10.03%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $0.63 EPS. As a group, analysts expect that Atmus Filtration Technologies will post 2.26 earnings per share for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

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

Analyst Ratings Changes

ATMU has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on Atmus Filtration Technologies from $37.00 to $36.00 and set an overweight rating for the company in a research report on Monday, May 6th. Robert W. Baird lowered their price target on Atmus Filtration Technologies from $37.00 to $36.00 and set an outperform rating for the company in a research report on Friday, July 19th. The Goldman Sachs Group lifted their price target on Atmus Filtration Technologies from $30.00 to $34.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. lifted their price target on Atmus Filtration Technologies from $36.00 to $38.00 and gave the stock an overweight rating in a research report on Monday, April 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $35.60.

About Atmus Filtration Technologies

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.