Brokers Issue Forecasts for AMTEK, Inc.’s Q3 2017 Earnings (AME)
AMTEK, Inc. (NYSE:AME) – Equities researchers at Jefferies Group lifted their Q3 2017 earnings per share (EPS) estimates for shares of AMTEK in a research note issued on Friday. Jefferies Group analyst B. Bohra now anticipates that the technology company will post earnings per share of $0.63 for the quarter, up from their previous forecast of $0.61. Jefferies Group currently has a “Buy” rating and a $77.00 target price on the stock. Jefferies Group also issued estimates for AMTEK’s Q4 2017 earnings at $0.65 EPS, FY2017 earnings at $2.53 EPS and FY2018 earnings at $2.84 EPS.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded AMTEK from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. BidaskClub downgraded AMTEK from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $70.00 price objective on shares of AMTEK in a research report on Friday, October 13th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $67.00 price objective on shares of AMTEK in a research report on Tuesday, June 27th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. AMTEK currently has a consensus rating of “Buy” and an average target price of $67.82.
Shares of AMTEK (NYSE:AME) opened at 67.92 on Monday. The firm has a 50-day moving average price of $65.35 and a 200 day moving average price of $61.40. The stock has a market capitalization of $15.68 billion, a PE ratio of 29.80 and a beta of 1.31. AMTEK has a one year low of $43.98 and a one year high of $68.19.
AMTEK (NYSE:AME) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. AMTEK had a return on equity of 16.28% and a net margin of 13.26%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 EPS.
Hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. grew its position in AMTEK by 1.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 633,825 shares of the technology company’s stock valued at $38,391,000 after acquiring an additional 9,831 shares during the period. Janus Henderson Group PLC grew its position in AMTEK by 22,076.4% during the second quarter. Janus Henderson Group PLC now owns 6,403,670 shares of the technology company’s stock valued at $387,870,000 after acquiring an additional 6,374,794 shares during the period. State Treasurer State of Michigan grew its position in AMTEK by 0.3% during the second quarter. State Treasurer State of Michigan now owns 75,584 shares of the technology company’s stock valued at $4,578,000 after acquiring an additional 200 shares during the period. BlackRock Inc. grew its position in AMTEK by 3,109.3% during the first quarter. BlackRock Inc. now owns 13,823,451 shares of the technology company’s stock valued at $747,572,000 after acquiring an additional 13,392,716 shares during the period. Finally, Mn Services Vermogensbeheer B.V. grew its position in AMTEK by 504.5% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 37,307 shares of the technology company’s stock valued at $2,260,000 after acquiring an additional 31,135 shares during the period. 85.56% of the stock is owned by hedge funds and other institutional investors.
In other AMTEK news, Director Elizebeth R. Varet sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $66.30, for a total transaction of $198,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas M. Montgomery sold 1,500 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $64.49, for a total value of $96,735.00. Following the sale, the vice president now directly owns 21,747 shares of the company’s stock, valued at approximately $1,402,464.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 173,255 shares of company stock valued at $11,483,064. Company insiders own 2.10% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Thursday, September 14th. AMTEK’s dividend payout ratio is currently 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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