Atmus Filtration Technologies (NYSE:ATMU) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Atmus Filtration Technologies (NYSE:ATMU) announced its quarterly earnings data on Friday. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.13, Briefing.com reports. Atmus Filtration Technologies had a return on equity of 314.52% and a net margin of 10.03%. The company had revenue of $432.60 million during the quarter, compared to analyst estimates of $418.33 million. During the same quarter last year, the firm posted $0.63 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Atmus Filtration Technologies updated its FY24 guidance to $2.15-2.40 EPS and its FY 2024 guidance to 2.150-2.400 EPS.

Atmus Filtration Technologies Price Performance

NYSE:ATMU traded up $0.93 during mid-day trading on Friday, reaching $30.91. The stock had a trading volume of 2,804,018 shares, compared to its average volume of 1,169,488. The firm has a 50 day moving average price of $29.39 and a two-hundred day moving average price of $27.94. The stock has a market capitalization of $2.58 billion, a P/E ratio of 15.76, a P/E/G ratio of 3.67 and a beta of 1.74. Atmus Filtration Technologies has a one year low of $18.21 and a one year high of $33.70. The company has a debt-to-equity ratio of 4.83, a quick ratio of 1.27 and a current ratio of 2.00.

Atmus Filtration Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 1st will be given a $0.05 dividend. The ex-dividend date is Thursday, August 1st. This represents a $0.20 dividend on an annualized basis and a yield of 0.65%. Atmus Filtration Technologies’s payout ratio is 10.20%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ATMU. JPMorgan Chase & Co. raised their target price on Atmus Filtration Technologies from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Robert W. Baird cut their target price on Atmus Filtration Technologies from $37.00 to $36.00 and set an “outperform” rating for the company in a research note on Friday, July 19th. The Goldman Sachs Group lifted their price target on Atmus Filtration Technologies from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company dropped their price target on Atmus Filtration Technologies from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $35.60.

About Atmus Filtration Technologies

Atmus Filtration Technologies Inc designs, manufactures, and sells filtration products under the Fleetguard brand name in North America, Europe, South America, Asia, Australia, Africa, and internationally. The company offers fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters, coolants, and fuel additives, as well as other chemicals; and fuel water separators and other filtration systems to original equipment manufacturers, dealers/distributors, and end-users.