Analysts Set Expectations for AMETEK, Inc.’s Q1 2018 Earnings (AME)
AMETEK, Inc. (NYSE:AME) – Research analysts at DA Davidson issued their Q1 2018 earnings per share (EPS) estimates for shares of AMETEK in a research report issued to clients and investors on Wednesday, April 11th. DA Davidson analyst M. Summerville forecasts that the technology company will post earnings of $0.72 per share for the quarter. DA Davidson currently has a “Buy” rating and a $85.00 price target on the stock. DA Davidson also issued estimates for AMETEK’s Q2 2018 earnings at $0.78 EPS, Q3 2018 earnings at $0.77 EPS, Q4 2018 earnings at $0.83 EPS, FY2018 earnings at $3.10 EPS, Q1 2019 earnings at $0.80 EPS, Q2 2019 earnings at $0.85 EPS, Q3 2019 earnings at $0.85 EPS, Q4 2019 earnings at $0.90 EPS and FY2019 earnings at $3.40 EPS.
A number of other research analysts have also commented on AME. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Wednesday, April 11th. BMO Capital Markets reaffirmed a “buy” rating and issued a $88.00 target price on shares of AMETEK in a report on Friday, January 26th. Wells Fargo set a $88.00 price objective on shares of AMETEK and gave the stock a “buy” rating in a report on Thursday, January 18th. KeyCorp boosted their price objective on shares of AMETEK from $82.00 to $86.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, Morgan Stanley boosted their price objective on shares of AMETEK from $67.00 to $76.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $81.58.
AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.03. AMETEK had a net margin of 15.85% and a return on equity of 16.39%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the business earned $0.58 EPS. AMETEK’s revenue for the quarter was up 17.5% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Friday, March 16th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Thursday, March 15th. This is an increase from AMETEK’s previous quarterly dividend of $0.09. AMETEK’s dividend payout ratio is 21.46%.
In other AMETEK news, Director Elizebeth R. Varet sold 6,295 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $74.72, for a total value of $470,362.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $75.85, for a total transaction of $227,550.00. The disclosure for this sale can be found here. Insiders sold 77,604 shares of company stock worth $5,976,638 in the last ninety days. Insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. MML Investors Services LLC lifted its holdings in shares of AMETEK by 7.7% in the fourth quarter. MML Investors Services LLC now owns 9,905 shares of the technology company’s stock valued at $718,000 after purchasing an additional 705 shares in the last quarter. New Mexico Educational Retirement Board lifted its holdings in shares of AMETEK by 3.7% in the fourth quarter. New Mexico Educational Retirement Board now owns 22,200 shares of the technology company’s stock valued at $1,609,000 after purchasing an additional 800 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of AMETEK by 11.4% in the fourth quarter. IFM Investors Pty Ltd now owns 8,581 shares of the technology company’s stock valued at $622,000 after purchasing an additional 875 shares in the last quarter. North Star Asset Management Inc. lifted its holdings in shares of AMETEK by 0.7% in the fourth quarter. North Star Asset Management Inc. now owns 135,437 shares of the technology company’s stock valued at $9,815,000 after purchasing an additional 895 shares in the last quarter. Finally, Leavell Investment Management Inc. lifted its holdings in shares of AMETEK by 16.7% in the fourth quarter. Leavell Investment Management Inc. now owns 6,384 shares of the technology company’s stock valued at $463,000 after purchasing an additional 915 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors.
AMETEK Company Profile
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.
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