AMETEK (NYSE:AME) Releases Q4 Earnings Guidance

AMETEK (NYSE:AME) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.81-1.86 for the period, compared to the consensus earnings per share estimate of $1.83. The company issued revenue guidance of up mid-single digits, compared to the consensus revenue estimate of $1.80 billion. AMETEK also updated its FY 2024 guidance to 6.770-6.820 EPS.

Wall Street Analysts Forecast Growth

AME has been the subject of several research analyst reports. Wolfe Research raised AMETEK to a “hold” rating in a report on Wednesday, September 18th. Mizuho boosted their price target on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada lowered their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.00.

AMETEK Price Performance

NYSE:AME traded down $4.91 during trading hours on Friday, hitting $178.43. 1,962,659 shares of the stock traded hands, compared to its average volume of 1,144,114. The company has a market cap of $41.31 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth 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 stock has a 50 day moving average price of $169.17 and a 200 day moving average price of $168.92. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company earned $1.64 EPS. AMETEK’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts forecast that AMETEK will post 6.76 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently announced 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%.

Insider Buying and Selling

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the sale, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is owned by 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.