AMETEK (NYSE:AME) Issues FY 2024 Earnings Guidance

AMETEK (NYSE:AME) issued an update on its FY 2024 earnings guidance on Thursday morning. 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.

Analyst Ratings Changes

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

AMETEK Stock Down 2.7 %

Shares of AME opened at $178.43 on Friday. The firm has a market capitalization of $41.31 billion, a P/E ratio of 31.09, a P/E/G ratio of 2.77 and a beta of 1.17. AMETEK has a 12-month low of $141.26 and a 12-month high of $186.32. 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 firm has a fifty day moving average price of $169.17 and a 200-day moving average price of $168.92.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. The firm 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 firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 earnings per share. Equities research analysts expect that AMETEK will post 6.76 earnings per share for the current year.

AMETEK Dividend Announcement

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

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

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.