Equities analysts expect AMETEK, Inc. (NYSE:AME) to report earnings of $0.78 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for AMETEK’s earnings. The highest EPS estimate is $0.80 and the lowest is $0.78. AMETEK reported earnings of $0.66 per share during the same quarter last year, which indicates a positive year over year growth rate of 18.2%. The firm is scheduled to report its next quarterly earnings results on Thursday, November 1st.
According to Zacks, analysts expect that AMETEK will report full-year earnings of $3.21 per share for the current fiscal year, with EPS estimates ranging from $3.19 to $3.24. For the next year, analysts expect that the firm will post earnings of $3.53 per share, with EPS estimates ranging from $3.44 to $3.61. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for AMETEK.
AMETEK (NYSE:AME) last announced its earnings results on Tuesday, July 31st. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.05. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. AMETEK had a return on equity of 16.94% and a net margin of 16.65%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period last year, the firm posted $0.65 earnings per share.
Several research analysts have issued reports on AME shares. Cowen reissued a “buy” rating and issued a $85.00 target price on shares of AMETEK in a research report on Sunday, August 12th. ValuEngine raised AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Bank of America raised their target price on AMETEK from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Royal Bank of Canada reissued a “buy” rating and issued a $86.00 target price on shares of AMETEK in a research report on Wednesday, August 1st. Finally, Morgan Stanley raised their target price on AMETEK from $79.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 1st. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. AMETEK currently has an average rating of “Buy” and an average target price of $86.08.
In other news, VP William Joseph Burke sold 15,600 shares of AMETEK stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $80.00, for a total transaction of $1,248,000.00. Following the transaction, the vice president now directly owns 68,289 shares of the company’s stock, valued at approximately $5,463,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Wesley Hardin sold 29,955 shares of AMETEK stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $81.55, for a total value of $2,442,830.25. Following the transaction, the insider now directly owns 70,016 shares in the company, valued at $5,709,804.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,925 shares of company stock worth $5,334,720. Insiders own 2.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal London Asset Management Ltd. purchased a new position in AMETEK in the 2nd quarter worth approximately $7,370,000. Schroder Investment Management Group lifted its holdings in AMETEK by 84.8% in the 2nd quarter. Schroder Investment Management Group now owns 116,377 shares of the technology company’s stock worth $8,345,000 after purchasing an additional 53,400 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in AMETEK in the 2nd quarter worth approximately $168,000. Global X Management Co LLC lifted its holdings in AMETEK by 23.2% in the 2nd quarter. Global X Management Co LLC now owns 7,584 shares of the technology company’s stock worth $547,000 after purchasing an additional 1,426 shares in the last quarter. Finally, Bank of Nova Scotia lifted its holdings in AMETEK by 196.3% in the 2nd quarter. Bank of Nova Scotia now owns 87,948 shares of the technology company’s stock worth $6,347,000 after purchasing an additional 58,264 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors.
Shares of NYSE:AME opened at $81.38 on Tuesday. The stock has a market capitalization of $18.77 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 2.30 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.19 and a current ratio of 1.71. AMETEK has a 52-week low of $64.81 and a 52-week high of $81.65.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.69%. AMETEK’s payout ratio is currently 21.46%.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.