AMTEK, Inc. (AME) Expected to Post Quarterly Sales of $1.04 Billion
Wall Street brokerages expect AMTEK, Inc. (NYSE:AME) to report $1.04 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for AMTEK’s earnings. The lowest sales estimate is $1.03 billion and the highest is $1.05 billion. AMTEK reported sales of $945.03 million during the same quarter last year, which indicates a positive year over year growth rate of 10%. The business is expected to announce its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that AMTEK will report full year sales of $1.04 billion for the current fiscal year, with estimates ranging from $4.07 billion to $4.22 billion. For the next fiscal year, analysts forecast that the business will report sales of $4.41 billion per share, with estimates ranging from $4.21 billion to $4.50 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover AMTEK.
AMTEK (NYSE:AME) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the company earned $0.59 EPS. The firm’s revenue was up 8.9% on a year-over-year basis.
AME has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of AMTEK from a “buy” rating to a “hold” rating in a report on Monday, May 29th. Stifel Nicolaus reissued a “buy” rating and issued a $69.00 target price (up from $66.00) on shares of AMTEK in a report on Thursday, June 8th. BMO Capital Markets reissued an “outperform” rating and issued a $67.00 target price (up from $65.00) on shares of AMTEK in a report on Wednesday, May 3rd. Cowen and Company reissued an “outperform” rating and issued a $66.00 target price (up from $62.00) on shares of AMTEK in a report on Friday, July 7th. Finally, Morgan Stanley raised their target price on shares of AMTEK from $57.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, May 8th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $65.09.
In other AMTEK news, insider Ronald J. Oscher sold 5,315 shares of AMTEK stock in a transaction on Friday, May 19th. The shares were sold at an average price of $60.05, for a total transaction of $319,165.75. Following the completion of the transaction, the insider now directly owns 32,131 shares of the company’s stock, valued at $1,929,466.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas M. Montgomery sold 1,500 shares of AMTEK stock in a transaction on Monday, August 7th. The stock was sold at an average price of $64.49, for a total transaction of $96,735.00. Following the transaction, the vice president now directly owns 21,747 shares of the company’s stock, valued at $1,402,464.03. The disclosure for this sale can be found here. Insiders have sold 55,370 shares of company stock valued at $3,432,699 over the last ninety days. 2.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of AME. Mn Services Vermogensbeheer B.V. raised its position in AMTEK by 2.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,172 shares of the technology company’s stock valued at $312,000 after buying an additional 171 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in AMTEK by 36.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 23,550 shares of the technology company’s stock valued at $1,274,000 after buying an additional 6,321 shares during the last quarter. Diversified Trust Co purchased a new position in AMTEK during the first quarter valued at approximately $238,000. State of Alaska Department of Revenue purchased a new position in AMTEK during the first quarter valued at approximately $248,000. Finally, DnB Asset Management AS raised its position in AMTEK by 7.1% in the first quarter. DnB Asset Management AS now owns 34,658 shares of the technology company’s stock valued at $1,874,000 after buying an additional 2,300 shares during the last quarter. 89.53% of the stock is owned by institutional investors.
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Shares of AMTEK (NYSE:AME) traded up 0.390% during midday trading on Friday, hitting $62.985. 209,476 shares of the stock were exchanged. The firm has a 50-day moving average of $61.79 and a 200-day moving average of $57.65. AMTEK has a 1-year low of $43.98 and a 1-year high of $64.97. The company has a market capitalization of $14.54 billion, a P/E ratio of 27.637 and a beta of 1.34.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, September 14th. AMTEK’s payout ratio is 15.79%.
AMTEK Company Profile
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.
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