Atmus Filtration Technologies (NYSE:ATMU) Updates FY24 Earnings Guidance

Atmus Filtration Technologies (NYSE:ATMU) updated its FY24 earnings guidance on Friday. The company provided earnings per share guidance of $2.15-2.40 for the period, compared to the consensus earnings per share estimate of $2.24. The company issued revenue guidance of $1.625-1.675 billion, compared to the consensus revenue estimate of $1.65 billion. Atmus Filtration Technologies also updated its FY 2024 guidance to 2.150-2.400 EPS.

Wall Street Analysts Forecast Growth

ATMU has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their target price 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. Robert W. Baird decreased their target price on Atmus Filtration Technologies from $37.00 to $36.00 and set an outperform rating for the company in a research report on Friday, July 19th. The Goldman Sachs Group upped their target price 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, JPMorgan Chase & Co. upped their target price on Atmus Filtration Technologies from $36.00 to $38.00 and gave the company an overweight rating in a research report on Monday, April 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $35.60.

Atmus Filtration Technologies Stock Performance

ATMU traded up $0.93 on Friday, hitting $30.91. 2,804,018 shares of the company traded hands, compared to its average volume of 1,169,488. The company has a 50 day moving average of $29.39 and a 200-day moving average of $27.94. The company has a quick ratio of 1.27, a current ratio of 2.00 and a debt-to-equity ratio of 4.83. The stock has a market capitalization of $2.58 billion, a PE ratio of 15.76, a PEG ratio of 3.67 and a beta of 1.74. Atmus Filtration Technologies has a 12-month low of $18.21 and a 12-month high of $33.70.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.58 by $0.13. The firm had revenue of $432.60 million during the quarter, compared to the consensus estimate of $418.33 million. Atmus Filtration Technologies had a return on equity of 314.52% and a net margin of 10.03%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 EPS. Sell-side analysts anticipate that Atmus Filtration Technologies will post 2.26 earnings per share for the current year.

Atmus Filtration Technologies Dividend Announcement

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

Atmus Filtration Technologies Company Profile

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.