Brokerages Expect AMETEK, Inc. (AME) Will Announce Quarterly Sales of $1.18 Billion

Equities research analysts expect AMETEK, Inc. (NYSE:AME) to announce sales of $1.18 billion for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for AMETEK’s earnings. The lowest sales estimate is $1.17 billion and the highest is $1.19 billion. AMETEK posted sales of $1.06 billion during the same quarter last year, which would indicate a positive year over year growth rate of 11.3%. The business is scheduled to report its next earnings report on Wednesday, August 1st.

According to Zacks, analysts expect that AMETEK will report full year sales of $4.74 billion for the current financial year, with estimates ranging from $4.70 billion to $4.78 billion. For the next fiscal year, analysts forecast that the firm will report sales of $4.97 billion per share, with estimates ranging from $4.91 billion to $5.02 billion. Zacks’ sales averages are an average based on a survey of research firms that cover AMETEK.

AMETEK (NYSE:AME) last released its quarterly earnings data on Wednesday, May 2nd. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. AMETEK had a return on equity of 16.64% and a net margin of 16.21%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm posted $0.61 earnings per share. The firm’s revenue was up 16.4% compared to the same quarter last year.

Several research firms have recently issued reports on AME. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, May 22nd. ValuEngine raised AMETEK from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. DA Davidson began coverage on AMETEK in a research note on Thursday, April 12th. They issued a “buy” rating and a $85.00 price objective for the company. Morgan Stanley upped their price objective on AMETEK from $76.00 to $79.00 and gave the company an “equal weight” rating in a research note on Thursday, May 3rd. Finally, BMO Capital Markets upped their price objective on AMETEK from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, May 3rd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. AMETEK currently has an average rating of “Buy” and a consensus target price of $82.17.

Shares of AMETEK stock traded up $0.10 on Monday, hitting $71.61. The stock had a trading volume of 49,969 shares, compared to its average volume of 1,205,571. AMETEK has a twelve month low of $59.56 and a twelve month high of $79.32. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.69 and a quick ratio of 1.18. The company has a market capitalization of $16.74 billion, a P/E ratio of 27.45, a P/E/G ratio of 2.31 and a beta of 1.26.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, June 14th. AMETEK’s dividend payout ratio is presently 21.46%.

In other AMETEK news, Director Elizebeth R. Varet sold 2,000 shares of the stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $75.56, for a total transaction of $151,120.00. Following the completion of the sale, the director now owns 113,810 shares of the company’s stock, valued at approximately $8,599,483.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of AMETEK by 7.8% during the 1st quarter. BlackRock Inc. now owns 16,255,467 shares of the technology company’s stock worth $1,234,928,000 after buying an additional 1,181,279 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of AMETEK by 6.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,369,528 shares of the technology company’s stock worth $407,923,000 after buying an additional 320,848 shares in the last quarter. Boston Partners boosted its holdings in shares of AMETEK by 1.6% during the 1st quarter. Boston Partners now owns 5,257,665 shares of the technology company’s stock worth $399,425,000 after buying an additional 85,260 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of AMETEK by 28.2% during the 4th quarter. Allianz Asset Management GmbH now owns 3,095,683 shares of the technology company’s stock worth $224,343,000 after buying an additional 681,646 shares in the last quarter. Finally, Mawer Investment Management Ltd. boosted its holdings in shares of AMETEK by 2.0% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,744,040 shares of the technology company’s stock worth $208,424,000 after buying an additional 54,366 shares in the last quarter. Hedge funds and other institutional investors own 84.07% of the company’s stock.

AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.

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Earnings History and Estimates for AMETEK (NYSE:AME)

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