AMETEK (NYSE:AME) Issues 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.

AMETEK Trading Down 2.7 %

Shares of AMETEK stock traded down $4.91 during trading on Friday, hitting $178.43. The stock had a trading volume of 1,962,659 shares, compared to its average volume of 1,144,114. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The company 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 stock has a 50 day simple moving average of $169.17 and a 200 day simple moving average of $168.92.

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 the consensus estimate of $1.62 by $0.04. The company had revenue of $1.71 billion for 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 for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 EPS. On average, research analysts expect that AMETEK will post 6.76 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is currently 19.51%.

Analysts Set New Price Targets

AME has been the subject of a number of research reports. Royal Bank of Canada reduced their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Wolfe Research upgraded AMETEK to a “hold” rating in a report on Wednesday, September 18th. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating 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 note on Tuesday, August 6th. Finally, Robert W. Baird cut their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $195.00.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction 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 transaction, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.