AMETEK (NYSE:AME) Releases FY 2024 Earnings Guidance

AMETEK (NYSE:AME) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 6.700-6.800 for the period, compared to the consensus estimate of 6.840. The company issued revenue guidance of $6.9 billion-$7.1 billion, compared to the consensus revenue estimate of $7.3 billion. AMETEK also updated its FY24 guidance to $6.70-6.80 EPS.

AMETEK Price Performance

Shares of AME stock opened at $173.44 on Thursday. AMETEK has a 52-week low of $136.89 and a 52-week high of $186.32. The stock has a market cap of $40.15 billion, a PE ratio of 30.48, a PEG ratio of 2.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11. The firm’s 50 day moving average price is $169.57 and its two-hundred day moving average price is $172.67.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $1.49 earnings per share. As a group, analysts forecast that AMETEK will post 6.81 EPS for the current year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.28 per share. The ex-dividend date was Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. AMETEK’s dividend payout ratio is 19.68%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AME shares. StockNews.com raised shares of AMETEK from a hold rating to a buy rating in a research report on Monday. Oppenheimer upgraded shares of AMETEK from a market perform rating to an outperform rating and set a $200.00 price objective on the stock in a report on Wednesday, May 22nd. Truist Financial dropped their price objective on shares of AMETEK from $210.00 to $204.00 and set a buy rating on the stock in a report on Tuesday, July 2nd. Finally, Robert W. Baird dropped their price objective on shares of AMETEK from $173.00 to $171.00 and set a neutral rating on the stock in a report on Monday, May 6th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $181.20.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the sale, the director now directly owns 26,249 shares in the company, valued at approximately $4,467,579.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the transaction, the director now directly owns 26,249 shares in the company, valued at approximately $4,467,579.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the transaction, the director now owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. 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; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.