Zacks: Brokerages Anticipate AMETEK, Inc. (NYSE:AME) Will Post Earnings of $1.09 Per Share

Brokerages predict that AMETEK, Inc. (NYSE:AME) will post earnings of $1.09 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for AMETEK’s earnings. The lowest EPS estimate is $1.05 and the highest is $1.12. AMETEK posted earnings of $0.84 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 29.8%. The business is expected to issue its next quarterly earnings report on Tuesday, August 3rd.

According to Zacks, analysts expect that AMETEK will report full-year earnings of $4.50 per share for the current year, with EPS estimates ranging from $4.25 to $4.57. For the next fiscal year, analysts anticipate that the company will post earnings of $4.95 per share, with EPS estimates ranging from $4.68 to $5.15. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for AMETEK.

AMETEK (NYSE:AME) last announced its earnings results on Monday, May 3rd. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.06. AMETEK had a return on equity of 16.29% and a net margin of 18.77%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company posted $1.02 EPS. AMETEK’s quarterly revenue was up 1.1% on a year-over-year basis.

A number of brokerages have recently weighed in on AME. DA Davidson boosted their price target on AMETEK from $135.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, May 5th. Morgan Stanley boosted their price target on AMETEK from $135.00 to $151.00 and gave the company an “overweight” rating in a report on Tuesday, May 11th. Zacks Investment Research upgraded AMETEK from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Friday, April 16th. Rosenblatt Securities boosted their price target on AMETEK from $140.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday, March 30th. Finally, Wells Fargo & Company boosted their price target on AMETEK from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, May 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $144.29.

Shares of AME traded up $0.92 during trading on Friday, reaching $134.34. The company’s stock had a trading volume of 716,937 shares, compared to its average volume of 1,024,466. The company has a fifty day moving average of $132.38 and a two-hundred day moving average of $121.56. AMETEK has a twelve month low of $77.37 and a twelve month high of $139.07. The company has a market cap of $31.02 billion, a price-to-earnings ratio of 35.54, a P/E/G ratio of 3.73 and a beta of 1.36. The company has a quick ratio of 1.47, a current ratio of 1.88 and a debt-to-equity ratio of 0.40.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Monday, June 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, June 11th. This represents a $0.80 dividend on an annualized basis and a yield of 0.60%. AMETEK’s payout ratio is currently 19.09%.

In other news, Director Thomas A. Amato sold 1,130 shares of the stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $136.59, for a total value of $154,346.70. Following the completion of the transaction, the director now owns 8,895 shares of the company’s stock, valued at $1,214,968.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anthony James Conti sold 740 shares of the stock in a transaction on Thursday, March 25th. The stock was sold at an average price of $121.43, for a total value of $89,858.20. Following the completion of the transaction, the director now directly owns 25,538 shares of the company’s stock, valued at approximately $3,101,079.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,258 shares of company stock valued at $4,825,035. 0.74% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in AME. Norges Bank bought a new position in shares of AMETEK in the fourth quarter worth $263,121,000. Flossbach Von Storch AG lifted its holdings in shares of AMETEK by 369.0% in the first quarter. Flossbach Von Storch AG now owns 1,792,548 shares of the technology company’s stock valued at $228,962,000 after buying an additional 1,410,349 shares during the period. FMR LLC lifted its holdings in shares of AMETEK by 11.3% in the fourth quarter. FMR LLC now owns 11,414,874 shares of the technology company’s stock valued at $1,380,515,000 after buying an additional 1,157,703 shares during the period. Alecta Pensionsforsakring Omsesidigt lifted its holdings in shares of AMETEK by 27.3% in the fourth quarter. Alecta Pensionsforsakring Omsesidigt now owns 3,879,365 shares of the technology company’s stock valued at $464,864,000 after buying an additional 831,365 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of AMETEK by 12.3% in the fourth quarter. JPMorgan Chase & Co. now owns 5,473,896 shares of the technology company’s stock valued at $662,015,000 after buying an additional 598,826 shares during the period. 85.66% of the stock is owned by institutional investors.

AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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Earnings History and Estimates for AMETEK (NYSE:AME)

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