AMETEK (NYSE:AME) Releases Q3 2019 Earnings Guidance

AMETEK (NYSE:AME) issued an update on its third quarter 2019 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.00-1.02 for the period, compared to the Thomson Reuters consensus estimate of $1.01. AMETEK also updated its FY 2019 guidance to $4.04-4.10 EPS.

Several brokerages have commented on AME. Berenberg Bank began coverage on shares of AMETEK in a research note on Wednesday, May 15th. They issued a buy rating and a $100.00 target price for the company. Zacks Investment Research raised shares of AMETEK from a hold rating to a buy rating and set a $90.00 target price for the company in a research note on Thursday, June 13th. ValuEngine downgraded shares of AMETEK from a buy rating to a hold rating in a research note on Thursday. KeyCorp upped their target price on shares of AMETEK from $94.00 to $100.00 in a research note on Wednesday. Finally, Morgan Stanley upped their target price on shares of AMETEK from $95.00 to $97.00 and gave the company an overweight rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $94.36.

NYSE:AME traded down $1.17 during trading hours on Friday, hitting $87.15. The stock had a trading volume of 50,158 shares, compared to its average volume of 1,183,110. AMETEK has a one year low of $63.14 and a one year high of $92.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.17. The stock has a market cap of $20.68 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 2.35 and a beta of 1.24. The firm has a 50 day moving average price of $89.11.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.02. AMETEK had a net margin of 16.32% and a return on equity of 18.70%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm earned $0.83 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts expect that AMETEK will post 4.09 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.64%. AMETEK’s dividend payout ratio is 17.02%.

In other news, 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 transaction of $5,073,926.00. Following the completion of the sale, the insider now owns 258,226 shares of the company’s stock, valued at $22,297,815.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anthony James Conti sold 1,570 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $87.79, for a total transaction of $137,830.30. Following the sale, the director now directly owns 17,198 shares of the company’s stock, valued at approximately $1,509,812.42. The disclosure for this sale can be found here. Insiders have sold 91,800 shares of company stock valued at $7,936,112 in the last three months. 0.80% of the stock is owned by insiders.

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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