Mettler-Toledo International (NYSE:MTD) Updates FY 2024 Earnings Guidance

Mettler-Toledo International (NYSE:MTDGet Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 40.350-40.500 for the period, compared to the consensus EPS estimate of 40.380. The company issued revenue guidance of $3.9 billion-$3.9 billion, compared to the consensus revenue estimate of $3.8 billion. Mettler-Toledo International also updated its Q4 guidance to $11.63-11.78 EPS.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MTD. Wells Fargo & Company began coverage on shares of Mettler-Toledo International in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $1,400.00 price objective on the stock. Stifel Nicolaus boosted their price target on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the company a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their price objective on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, Evercore ISI lifted their target price on Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the company an “in-line” rating in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $1,363.75.

Read Our Latest Stock Analysis on MTD

Mettler-Toledo International Trading Down 7.2 %

Shares of MTD traded down $101.49 during mid-day trading on Friday, hitting $1,310.03. The company’s stock had a trading volume of 254,186 shares, compared to its average volume of 119,785. The firm has a 50-day simple moving average of $1,398.01 and a 200 day simple moving average of $1,401.35. Mettler-Toledo International has a 1-year low of $953.28 and a 1-year high of $1,546.93. The firm has a market capitalization of $27.80 billion, a P/E ratio of 36.05, a P/E/G ratio of 4.09 and a beta of 1.16.

Mettler-Toledo International (NYSE:MTDGet Free Report) last issued its earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 EPS for the quarter, topping the consensus estimate of $10.00 by $0.21. The company had revenue of $954.54 million for the quarter, compared to analyst estimates of $941.93 million. Mettler-Toledo International had a net margin of 20.95% and a negative return on equity of 575.61%. As a group, sell-side analysts predict that Mettler-Toledo International will post 40.34 EPS for the current fiscal year.

Insider Transactions at Mettler-Toledo International

In other Mettler-Toledo International news, insider Christian Magloth sold 1,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the sale, the insider now owns 734 shares of the company’s stock, valued at approximately $1,044,459.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.94% of the company’s stock.

About Mettler-Toledo International

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Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the Americas, Europe, Asia, and internationally. It operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company’s laboratory instruments include laboratory balances, liquid pipetting solutions, automated laboratory reactors, real-time analytics, titrators, pH meters, process analytics sensors and analyzer technologies, physical value analyzers, density and refractometry, thermal analysis systems, and other analytical instruments; and LabX, a laboratory software platform to manage and analyze data generated from its instruments.

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Earnings History and Estimates for Mettler-Toledo International (NYSE:MTD)

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