Zacks: Analysts Expect Applied Materials, Inc. (AMAT) Will Post Quarterly Sales of $4.00 Billion

Equities research analysts expect that Applied Materials, Inc. (NASDAQ:AMAT) will announce sales of $4.00 billion for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Applied Materials’ earnings, with the lowest sales estimate coming in at $4.00 billion and the highest estimate coming in at $4.01 billion. Applied Materials posted sales of $3.97 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 0.8%. The company is expected to announce its next quarterly earnings report on Thursday, November 15th.

According to Zacks, analysts expect that Applied Materials will report full year sales of $17.24 billion for the current financial year, with estimates ranging from $17.24 billion to $17.25 billion. For the next year, analysts anticipate that the business will post sales of $17.31 billion, with estimates ranging from $16.45 billion to $17.78 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Applied Materials.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.03. Applied Materials had a net margin of 19.87% and a return on equity of 58.23%. The company had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter last year, the business posted $0.86 EPS. Applied Materials’s quarterly revenue was up 19.3% compared to the same quarter last year.

Several equities research analysts have recently issued reports on the stock. Citigroup decreased their price target on shares of Applied Materials from $68.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday. BidaskClub lowered shares of Applied Materials from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 11th. Bank of America lowered shares of Applied Materials from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research note on Tuesday, August 28th. ValuEngine lowered shares of Applied Materials from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 23rd. Finally, Nomura decreased their price target on shares of Applied Materials from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, August 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $62.09.

A number of institutional investors have recently added to or reduced their stakes in the stock. Kaizen Advisory LLC boosted its holdings in Applied Materials by 147.4% in the 2nd quarter. Kaizen Advisory LLC now owns 2,561 shares of the manufacturing equipment provider’s stock valued at $118,000 after purchasing an additional 1,526 shares during the period. Rational Advisors LLC boosted its holdings in Applied Materials by 5,102.0% in the 2nd quarter. Rational Advisors LLC now owns 2,601 shares of the manufacturing equipment provider’s stock valued at $120,000 after purchasing an additional 2,551 shares during the period. Private Capital Group LLC boosted its holdings in Applied Materials by 728.9% in the 1st quarter. Private Capital Group LLC now owns 3,009 shares of the manufacturing equipment provider’s stock valued at $167,000 after purchasing an additional 2,646 shares during the period. AdvisorNet Financial Inc boosted its holdings in Applied Materials by 127.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,054 shares of the manufacturing equipment provider’s stock valued at $141,000 after purchasing an additional 1,709 shares during the period. Finally, Moneta Group Investment Advisors LLC boosted its holdings in Applied Materials by 28,672.7% in the 1st quarter. Moneta Group Investment Advisors LLC now owns 3,165 shares of the manufacturing equipment provider’s stock valued at $176,000 after purchasing an additional 3,154 shares during the period. Institutional investors and hedge funds own 77.16% of the company’s stock.

Shares of AMAT stock traded up $0.09 during trading hours on Friday, hitting $38.35. 7,138,500 shares of the company were exchanged, compared to its average volume of 13,645,003. The company has a quick ratio of 1.67, a current ratio of 2.52 and a debt-to-equity ratio of 0.78. Applied Materials has a 52-week low of $37.39 and a 52-week high of $62.40. The firm has a market cap of $37.92 billion, a P/E ratio of 11.72, a PEG ratio of 0.78 and a beta of 1.53.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Friday, November 23rd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.80 dividend on an annualized basis and a yield of 2.09%. Applied Materials’s dividend payout ratio is 24.62%.

About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.

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