AMETEK (NYSE:AME) Releases Q2 Earnings Guidance

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

Analyst Ratings Changes

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

AMETEK Stock Performance

AMETEK stock traded up $3.22 during trading on Friday, reaching $166.56. The company had a trading volume of 2,065,100 shares, compared to its average volume of 956,196. AMETEK has a 52 week low of $136.89 and a 52 week high of $186.32. The firm’s 50-day simple moving average is $179.64 and its 200 day simple moving average is $166.05. The firm has a market capitalization of $38.51 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21. The company has a current ratio of 1.11, a quick ratio of 0.59 and a debt-to-equity ratio of 0.21.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the firm earned $1.49 EPS. AMETEK’s revenue for the quarter was up 9.0% compared to the same quarter last year. Sell-side analysts forecast that AMETEK will post 6.81 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, March 7th. This is a boost from AMETEK’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

Insider Buying and Selling at AMETEK

In other AMETEK news, CFO William Joseph Burke sold 5,973 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was 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 directly owns 101,709 shares of the company’s stock, valued at $17,178,650.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Thomas M. Montgomery sold 6,891 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the completion of the transaction, the vice president now owns 21,543 shares in the company, valued at $3,993,641.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO William Joseph Burke sold 5,973 shares of the firm’s stock in a transaction dated 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 transaction, 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 a total of 59,881 shares of company stock valued at $10,689,758 over the last ninety days. 0.61% of the stock is currently owned by company 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.