Zacks: Brokerages Expect AMTEK, Inc. (AME) Will Post Quarterly Sales of $1.04 Billion
Analysts forecast that AMTEK, Inc. (NYSE:AME) will post sales of $1.04 billion for the current quarter, according to Zacks. Six analysts have issued estimates for AMTEK’s earnings, with the lowest sales estimate coming in at $1.03 billion and the highest estimate coming in at $1.05 billion. AMTEK posted sales of $945.03 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10%. The company is scheduled to report its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that AMTEK will report full-year sales of $1.04 billion for the current year, with estimates ranging from $4.07 billion to $4.22 billion. For the next fiscal year, analysts expect that the business will post sales of $4.41 billion per share, with estimates ranging from $4.21 billion to $4.50 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for AMTEK.
AMTEK (NYSE:AME) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.62 by $0.03. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS.
AME has been the topic of a number of recent research reports. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Monday, June 5th. Morgan Stanley raised their price objective on shares of AMTEK from $57.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, May 8th. BMO Capital Markets reaffirmed a “buy” rating and issued a $67.00 price objective on shares of AMTEK in a research note on Tuesday, June 27th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $67.00 price objective on shares of AMTEK in a research note on Tuesday, June 6th. Finally, BidaskClub lowered shares of AMTEK from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $64.91.
In other AMTEK news, Director Elizebeth R. Varet sold 3,000 shares of AMTEK stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $63.24, for a total value of $189,720.00. Following the sale, the director now owns 117,880 shares of the company’s stock, valued at $7,454,731.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Wesley Hardin sold 2,600 shares of AMTEK stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $64.51, for a total transaction of $167,726.00. Following the completion of the sale, the insider now directly owns 59,698 shares in the company, valued at approximately $3,851,117.98. The disclosure for this sale can be found here. Insiders have sold 13,100 shares of company stock worth $828,041 over the last three months. 2.10% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of AMTEK by 3,109.3% in the first quarter. BlackRock Inc. now owns 13,823,451 shares of the technology company’s stock valued at $747,572,000 after buying an additional 13,392,716 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of AMTEK by 22,076.4% in the second quarter. Janus Henderson Group PLC now owns 6,403,670 shares of the technology company’s stock valued at $387,870,000 after buying an additional 6,374,794 shares in the last quarter. Boston Partners raised its stake in shares of AMTEK by 534.8% in the first quarter. Boston Partners now owns 3,439,416 shares of the technology company’s stock valued at $186,004,000 after buying an additional 2,897,568 shares in the last quarter. American Century Companies Inc. raised its stake in shares of AMTEK by 115.2% in the first quarter. American Century Companies Inc. now owns 2,777,068 shares of the technology company’s stock valued at $150,184,000 after buying an additional 1,486,889 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of AMTEK by 9.0% in the first quarter. Wellington Management Group LLP now owns 10,528,307 shares of the technology company’s stock valued at $569,372,000 after buying an additional 868,895 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.
AMTEK (NYSE:AME) traded down 0.03% during midday trading on Tuesday, reaching $63.23. 1,101,547 shares of the company traded hands. The company has a 50 day moving average of $62.51 and a 200-day moving average of $58.83. AMTEK has a 12-month low of $43.98 and a 12-month high of $64.97. The stock has a market capitalization of $14.59 billion, a P/E ratio of 27.74 and a beta of 1.34.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, September 14th. AMTEK’s payout ratio is currently 15.79%.
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AMTEK Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMTEK Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.