Applied Materials, Inc. (AMAT) Expected to Post Earnings of $0.97 Per Share

Wall Street brokerages predict that Applied Materials, Inc. (NASDAQ:AMAT) will report earnings per share (EPS) of $0.97 for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Applied Materials’ earnings, with the lowest EPS estimate coming in at $0.94 and the highest estimate coming in at $0.99. Applied Materials reported earnings per share of $0.67 during the same quarter last year, which indicates a positive year over year growth rate of 44.8%. The business is expected to issue its next earnings results on Wednesday, February 21st.

According to Zacks, analysts expect that Applied Materials will report full year earnings of $4.04 per share for the current financial year, with EPS estimates ranging from $3.80 to $4.25. For the next financial year, analysts expect that the company will report earnings of $4.37 per share, with EPS estimates ranging from $3.55 to $4.86. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Applied Materials.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The firm’s revenue was up 20.4% on a year-over-year basis.

AMAT has been the subject of a number of research reports. Wells Fargo & Co initiated coverage on shares of Applied Materials in a research note on Tuesday, December 5th. They issued an “outperform” rating and a $65.00 price objective for the company. Goldman Sachs Group raised shares of Applied Materials from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $52.00 in a research note on Wednesday, September 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Applied Materials in a research note on Thursday, September 14th. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “strong-buy” rating and set a $59.00 price objective for the company in a research note on Friday, December 15th. Finally, Bank of America upped their price objective on shares of Applied Materials from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. One investment analyst has rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $60.95.

In other Applied Materials news, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $58.00, for a total value of $290,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ali Salehpour sold 125,125 shares of the company’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $51.47, for a total transaction of $6,440,183.75. The disclosure for this sale can be found here. Insiders sold a total of 312,716 shares of company stock valued at $16,218,746 over the last 90 days. Company insiders own 0.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. QUANTRES ASSET MANAGEMENT Ltd bought a new position in Applied Materials in the 4th quarter worth $516,000. Prudential Financial Inc. raised its holdings in Applied Materials by 1.1% in the 3rd quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock worth $318,778,000 after purchasing an additional 64,186 shares in the last quarter. Atlantic Trust Group LLC raised its holdings in Applied Materials by 1,892.7% in the 3rd quarter. Atlantic Trust Group LLC now owns 862,580 shares of the manufacturing equipment provider’s stock worth $44,932,000 after purchasing an additional 819,292 shares in the last quarter. Shelton Capital Management raised its holdings in Applied Materials by 2.5% in the 3rd quarter. Shelton Capital Management now owns 123,001 shares of the manufacturing equipment provider’s stock worth $6,407,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in Applied Materials in the 3rd quarter worth $190,000. Institutional investors and hedge funds own 79.76% of the company’s stock.

Shares of Applied Materials (AMAT) opened at $54.60 on Friday. Applied Materials has a 12 month low of $31.86 and a 12 month high of $60.89. The stock has a market cap of $58,010.00, a price-to-earnings ratio of 17.22, a PEG ratio of 1.06 and a beta of 1.81. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Wednesday, February 21st will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, February 20th. This represents a $0.40 dividend on an annualized basis and a yield of 0.73%. Applied Materials’s dividend payout ratio is currently 12.62%.

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