Atmus Filtration Technologies (NYSE:ATMU) Issues Earnings Results

Atmus Filtration Technologies (NYSE:ATMU) announced its earnings results on Friday. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.01, Briefing.com reports. The business had revenue of $426.60 million for the quarter, compared to analyst estimates of $416.18 million. Atmus Filtration Technologies had a net margin of 10.52% and a return on equity of 135.12%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Atmus Filtration Technologies updated its FY24 guidance to $2.10-2.35 EPS and its FY 2024 guidance to 2.100-2.350 EPS.

Atmus Filtration Technologies Trading Down 8.0 %

Atmus Filtration Technologies stock traded down $2.48 during trading on Friday, reaching $28.44. 5,741,916 shares of the company were exchanged, compared to its average volume of 2,326,992. The company has a debt-to-equity ratio of 7.34, a current ratio of 1.85 and a quick ratio of 1.18. The stock’s 50 day simple moving average is $29.04 and its two-hundred day simple moving average is $24.48. The company has a market capitalization of $2.37 billion and a P/E ratio of 14.51. Atmus Filtration Technologies has a 52-week low of $18.21 and a 52-week high of $33.70.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Robert W. Baird lifted their price objective on Atmus Filtration Technologies from $29.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. 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 note on Tuesday, April 16th. JPMorgan Chase & Co. boosted 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. Finally, Northland Securities upgraded Atmus Filtration Technologies from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a report on Wednesday, March 20th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $32.67.

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.