AMTEK, Inc. (AME) Releases Earnings Results, Beats Expectations By $0.04 EPS

AMTEK, Inc. (NYSE:AME) issued its quarterly earnings data on Thursday. The technology company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.04, Briefing.com reports. AMTEK had a return on equity of 16.48% and a net margin of 13.37%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. AMTEK updated its Q4 guidance to $0.66-0.67 EPS.

Shares of AMTEK (NYSE:AME) traded up $0.39 during midday trading on Friday, reaching $67.64. The company’s stock had a trading volume of 1,938,812 shares, compared to its average volume of 1,115,619. The company has a market capitalization of $15.80 billion, a PE ratio of 27.46 and a beta of 1.33.

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In other news, Director Elizebeth R. Varet sold 3,000 shares of AMTEK stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $63.24, for a total transaction of $189,720.00. Following the sale, the director now owns 117,880 shares in the company, valued at $7,454,731.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frank S. Hermance sold 150,840 shares of AMTEK stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $66.38, for a total value of $10,012,759.20. Following the sale, the insider now owns 2,191,341 shares in the company, valued at approximately $145,461,215.58. The disclosure for this sale can be found here. Insiders have sold a total of 170,655 shares of company stock valued at $11,315,338 over the last ninety days. 2.10% of the stock is owned by company insiders.

A number of research firms recently issued reports on AME. Zacks Investment Research lowered AMTEK from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. BidaskClub lowered AMTEK from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Robert W. Baird lifted their target price on AMTEK from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley lifted their target price on AMTEK from $64.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $70.00 target price on shares of AMTEK in a report on Friday, October 13th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $70.20.

AMTEK Company Profile

AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.

Earnings History for AMTEK (NYSE:AME)

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