AMETEK (NYSE:AME) Issues Q2 Earnings Guidance

AMETEK (NYSE:AME) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.63-$1.65 for the period, compared to the consensus EPS estimate of $1.67. AMETEK also updated its FY24 guidance to $6.74-$6.86 EPS.

AMETEK Stock Performance

NYSE:AME opened at $167.36 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $180.18 and a two-hundred day moving average price of $165.96. AMETEK has a twelve month low of $136.89 and a twelve month high of $186.32. The company has a market capitalization of $38.70 billion, a P/E ratio of 30.67, a price-to-earnings-growth ratio of 2.79 and a beta of 1.21.

AMETEK (NYSE:AME) last posted its earnings results on Tuesday, February 6th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.06. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $1.52 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts expect that AMETEK will post 6.82 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from AMETEK’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. AMETEK’s payout ratio is 19.75%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AME. KeyCorp boosted their target price on shares of AMETEK from $182.00 to $205.00 and gave the company an overweight rating in a report on Tuesday, February 27th. Truist Financial assumed coverage on shares of AMETEK in a report on Thursday, March 14th. They issued a buy rating and a $210.00 target price for the company. Royal Bank of Canada reduced their price target on shares of AMETEK from $192.00 to $188.00 and set an outperform rating on the stock in a research report on Wednesday, February 7th. Finally, StockNews.com cut shares of AMETEK from a buy rating to a hold rating in a research report on Saturday, March 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, AMETEK currently has an average rating of Moderate Buy and an average target price of $180.78.

Insider Activity at AMETEK

In related news, CFO William Joseph Burke sold 5,973 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $168.90, for a total value of $1,008,839.70. Following the sale, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at $17,178,650.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AMETEK news, Director Steven W. Kohlhagen sold 1,400 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total transaction of $252,826.00. Following the completion of the sale, the director now owns 28,054 shares in the company, valued at $5,066,271.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO William Joseph Burke sold 5,973 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the sale, the chief financial officer now owns 101,709 shares of the company’s stock, valued at approximately $17,178,650.10. The disclosure for this sale can be found here. Insiders have sold 59,881 shares of company stock valued at $10,689,758 over the last ninety days. 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.