AMETEK (NYSE:AME) Releases FY 2024 Earnings Guidance

AMETEK (NYSE:AME) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 6.770-6.820 for the period, compared to the consensus 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.

AMETEK Stock Down 2.7 %

NYSE AME traded down $4.91 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 firm has a market capitalization of $41.31 billion, a PE ratio of 31.09, a P/E/G ratio of 2.77 and a beta of 1.17. AMETEK has a 1 year low of $141.26 and a 1 year high of $186.32. The firm has a 50-day moving average of $169.17 and a 200-day moving average of $168.99. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 EPS. On average, equities research analysts anticipate that AMETEK will post 6.76 EPS for the current fiscal year.

AMETEK Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently weighed in on AME. Robert W. Baird decreased their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Truist Financial raised their target price on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and a consensus target price of $195.00.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the 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 completion of the sale, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. This represents 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 through the SEC website. Corporate insiders own 0.61% of the company’s stock.

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.