AMETEK (NYSE:AME) Releases FY 2019 Earnings Guidance

AMETEK (NYSE:AME) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.04-4.10 for the period, compared to the Thomson Reuters consensus estimate of $4.07. AMETEK also updated its Q3 guidance to $1.00 to $1.02 EPS.

NYSE:AME traded down $1.70 during trading hours on Friday, hitting $86.62. The company’s stock had a trading volume of 25,634 shares, compared to its average volume of 1,183,110. The company has a 50-day moving average price of $89.11. The firm has a market capitalization of $20.68 billion, a P/E ratio of 26.33, a PEG ratio of 2.35 and a beta of 1.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.17 and a quick ratio of 1.27. AMETEK has a 52-week low of $63.14 and a 52-week high of $92.30.

AMETEK (NYSE:AME) last posted its earnings results on Tuesday, July 30th. The technology company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.02. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. AMETEK had a return on equity of 18.70% and a net margin of 16.32%. AMETEK’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 earnings per share. On average, research analysts anticipate that AMETEK will post 4.09 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.65%. AMETEK’s dividend payout ratio (DPR) is 17.02%.

Several analysts have weighed in on AME shares. Vertical Research reissued a buy rating on shares of AMETEK in a report on Friday, May 3rd. Oppenheimer upped their target price on AMETEK from $94.00 to $100.00 and gave the company an outperform rating in a report on Wednesday. Morgan Stanley upped their target price on AMETEK from $95.00 to $97.00 and gave the company an overweight rating in a report on Wednesday. KeyCorp upped their target price on AMETEK from $94.00 to $100.00 in a report on Wednesday. Finally, Royal Bank of Canada set a $95.00 target price on AMETEK and gave the company a buy rating in a report on Wednesday. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $94.36.

In related news, VP Thomas M. Montgomery sold 5,602 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $88.50, for a total transaction of $495,777.00. Following the sale, the vice president now owns 26,419 shares of the company’s stock, valued at $2,338,081.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David A. Zapico sold 58,760 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $86.35, for a total value of $5,073,926.00. Following the sale, the insider now directly owns 258,226 shares in the company, valued at approximately $22,297,815.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,800 shares of company stock worth $7,936,112. Corporate insiders own 0.80% of the company’s stock.

AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control 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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