AMETEK, Inc. (AME) Anticipated to Publish Quarterly Sales of $1.03 Billion

AMETEK, Inc. (AME) Anticipated to Publish Quarterly Sales of $1.03 Billion

Analysts expect that AMETEK, Inc. (NYSE:AME) will announce $1.03 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for AMETEK’s earnings, with estimates ranging from $1.02 billion to $1.04 billion. AMETEK reported sales of $977.71 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.3%. The business is expected to report its next quarterly earnings results on Thursday, August 3rd.

On average, analysts expect that AMETEK will report full-year sales of $1.03 billion for the current financial year, with estimates ranging from $4.05 billion to $4.15 billion. For the next financial year, analysts expect that the company will post sales of $4.29 billion per share, with estimates ranging from $4.21 billion to $4.36 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow AMETEK.

AMETEK (NYSE:AME) last announced its earnings results on Tuesday, May 2nd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AMETEK had a net margin of 13.34% and a return on equity of 16.19%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $961.36 million. During the same quarter last year, the firm earned $0.57 earnings per share. AMETEK’s quarterly revenue was up 6.7% on a year-over-year basis.

A number of equities research analysts recently commented on AME shares. Zacks Investment Research lowered shares of AMETEK from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. BMO Capital Markets reiterated a “buy” rating and set a $65.00 price target on shares of AMETEK in a report on Monday, March 27th. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price target (up from $63.00) on shares of AMETEK in a report on Wednesday, May 3rd. Atlantic Securities upgraded shares of AMETEK from a “neutral” rating to an “overweight” rating and upped their price target for the company from $48.00 to $62.00 in a report on Wednesday, February 15th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $60.00 price target (up from $57.00) on shares of AMETEK in a report on Wednesday, February 8th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $60.10.

In other AMETEK news, Director Anthony James Conti sold 4,756 shares of the company’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $60.42, for a total value of $287,357.52. Following the completion of the transaction, the director now directly owns 15,124 shares in the company, valued at approximately $913,792.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy N. Jones sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $54.20, for a total transaction of $542,000.00. Following the completion of the transaction, the insider now owns 44,139 shares of the company’s stock, valued at $2,392,333.80. The disclosure for this sale can be found here. Insiders sold a total of 48,001 shares of company stock valued at $2,826,368 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of AMETEK by 3,109.3% in the first quarter. BlackRock Inc. now owns 13,823,451 shares of the technology company’s stock valued at $747,572,000 after buying an additional 13,392,716 shares during the period. Boston Partners raised its position in shares of AMETEK by 534.8% in the first quarter. Boston Partners now owns 3,439,416 shares of the technology company’s stock valued at $186,004,000 after buying an additional 2,897,568 shares during the period. Janus Capital Management LLC raised its position in shares of AMETEK by 166.3% in the fourth quarter. Janus Capital Management LLC now owns 3,749,860 shares of the technology company’s stock valued at $182,282,000 after buying an additional 2,341,543 shares during the period. Norges Bank bought a new position in shares of AMETEK during the fourth quarter valued at approximately $97,055,000. Finally, American Century Companies Inc. raised its position in shares of AMETEK by 115.2% in the first quarter. American Century Companies Inc. now owns 2,777,068 shares of the technology company’s stock valued at $150,184,000 after buying an additional 1,486,889 shares during the period. Institutional investors and hedge funds own 89.39% of the company’s stock.

Shares of AMETEK (NYSE AME) traded up 0.57% during trading on Thursday, reaching $61.86. 1,186,111 shares of the company were exchanged. The stock has a market capitalization of $14.23 billion, a PE ratio of 27.88 and a beta of 1.11. AMETEK has a one year low of $43.28 and a one year high of $62.19. The stock has a 50-day moving average price of $58.84 and a 200-day moving average price of $53.41.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $0.36 annualized dividend and a yield of 0.58%. AMETEK’s dividend payout ratio (DPR) is presently 16.44%.

About AMETEK

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “AME”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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