Amentum (NYSE:AMTM) Announces Earnings Results

Amentum (NYSE:AMTM) issued its quarterly earnings results on Monday. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02, FiscalAI reports. Amentum had a net margin of 0.69% and a return on equity of 11.56%. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.47 billion.

Amentum Trading Down 2.4%

Shares of NYSE:AMTM traded down $0.59 during trading on Monday, reaching $23.94. 5,079,171 shares of the company traded hands, compared to its average volume of 2,028,447. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 59.86, a P/E/G ratio of 0.72 and a beta of 0.43. Amentum has a 52-week low of $19.11 and a 52-week high of $38.11. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.84. The business’s fifty day moving average is $27.42 and its 200-day moving average is $28.55.

Analyst Upgrades and Downgrades

AMTM has been the topic of a number of recent research reports. Truist Financial increased their price target on shares of Amentum from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. BTIG Research reiterated a “buy” rating and set a $35.00 price target on shares of Amentum in a research report on Wednesday, February 11th. Wall Street Zen cut shares of Amentum from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Citizens Jmp reiterated a “market outperform” rating and set a $40.00 price target on shares of Amentum in a research report on Monday, April 13th. Finally, Citigroup reiterated an “outperform” rating on shares of Amentum in a research report on Monday, January 12th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $34.91.

Institutional Trading of Amentum

A number of institutional investors have recently made changes to their positions in the stock. Invesco Ltd. boosted its stake in shares of Amentum by 13.0% during the third quarter. Invesco Ltd. now owns 22,116,835 shares of the company’s stock valued at $529,698,000 after purchasing an additional 2,539,594 shares during the period. Primecap Management Co. CA lifted its stake in Amentum by 1.7% in the fourth quarter. Primecap Management Co. CA now owns 12,126,927 shares of the company’s stock worth $351,681,000 after acquiring an additional 208,341 shares during the period. State Street Corp lifted its stake in Amentum by 7.6% in the second quarter. State Street Corp now owns 7,078,249 shares of the company’s stock worth $167,117,000 after acquiring an additional 501,898 shares during the period. Ruane Cunniff & Goldfarb L.P. lifted its stake in Amentum by 2.0% in the second quarter. Ruane Cunniff & Goldfarb L.P. now owns 2,441,743 shares of the company’s stock worth $57,650,000 after acquiring an additional 48,704 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Amentum by 50.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,081,611 shares of the company’s stock worth $49,855,000 after acquiring an additional 701,859 shares during the period. Hedge funds and other institutional investors own 39.93% of the company’s stock.

About Amentum

Amentum is a government services provider specializing in mission-critical solutions for defense, federal civilian and commercial customers around the globe. The company delivers integrated services that span the full lifecycle of complex programs and facilities, including engineering, program and project management, logistics, operations, maintenance and environmental remediation.

Core offerings include infrastructure support, energy and facilities management, environmental solutions and nuclear services.