AMETEK (NYSE:AME) Updates Q3 Earnings Guidance

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

AME traded down $1.82 during midday trading on Friday, reaching $86.50. 1,514,105 shares of the company were exchanged, compared to its average volume of 1,208,558. The company has a quick ratio of 1.27, a current ratio of 2.17 and a debt-to-equity ratio of 0.51. AMETEK has a one year low of $63.14 and a one year high of $92.30. The firm has a market cap of $20.68 billion, a PE ratio of 26.29, a P/E/G ratio of 2.35 and a beta of 1.24. The company’s 50-day simple moving average is $89.13.

AMETEK (NYSE:AME) last issued its earnings results on Tuesday, July 30th. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.02. AMETEK had a return on equity of 18.70% and a net margin of 16.32%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business earned $0.83 earnings per share. The company’s revenue was up 6.7% compared to the same quarter last year. Equities analysts expect that AMETEK will post 4.09 EPS for the current year.

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

Several equities analysts have recently weighed in on AME shares. Morgan Stanley lifted their price objective on AMETEK from $95.00 to $97.00 and gave the company an overweight rating in a report on Wednesday. BMO Capital Markets lifted their price objective on AMETEK from $99.00 to $101.00 and gave the company an outperform rating in a report on Thursday, May 2nd. Vertical Research reiterated a buy rating on shares of AMETEK in a report on Friday, May 3rd. ValuEngine cut AMETEK from a buy rating to a hold rating in a report on Thursday. Finally, Oppenheimer lifted their price objective on AMETEK from $94.00 to $100.00 and gave the company an outperform rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $94.36.

In other AMETEK news, Director Thomas A. Amato sold 1,790 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $83.57, for a total transaction of $149,590.30. Following the transaction, the director now owns 9,370 shares of the company’s stock, valued at approximately $783,050.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas M. Montgomery sold 5,602 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $88.50, for a total value of $495,777.00. Following the transaction, the vice president now directly owns 26,419 shares in the company, valued at approximately $2,338,081.50. The disclosure for this sale can be found here. In the last three months, insiders sold 91,800 shares of company stock worth $7,936,112. 0.80% of the stock is owned by insiders.

About AMETEK

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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