Zacks: Brokerages Expect AMETEK, Inc. (NYSE:AME) Will Announce Quarterly Sales of $1.29 Billion

Equities research analysts expect that AMETEK, Inc. (NYSE:AME) will post sales of $1.29 billion for the current quarter, Zacks reports. Five analysts have provided estimates for AMETEK’s earnings, with the highest sales estimate coming in at $1.31 billion and the lowest estimate coming in at $1.28 billion. AMETEK reported sales of $1.19 billion during the same quarter last year, which would suggest a positive year over year growth rate of 8.4%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, November 7th.

On average, analysts expect that AMETEK will report full year sales of $5.22 billion for the current year, with estimates ranging from $5.18 billion to $5.27 billion. For the next fiscal year, analysts expect that the company will report sales of $5.42 billion, with estimates ranging from $5.37 billion to $5.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for AMETEK.

AMETEK (NYSE:AME) last issued its earnings results on Tuesday, July 30th. The technology company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.02. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. AMETEK had a return on equity of 19.27% and a net margin of 16.32%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS.

A number of research analysts have recently commented on the company. Oppenheimer increased their price target on AMETEK from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Royal Bank of Canada set a $95.00 price target on AMETEK and gave the company a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley increased their price target on AMETEK from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Bank of America cut AMETEK from a “buy” rating to a “neutral” rating and dropped their price target for the company from $105.00 to $95.00 in a research note on Friday. Finally, ValuEngine cut AMETEK from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $94.42.

Shares of AME stock traded up $0.56 during trading hours on Friday, reaching $88.51. The company’s stock had a trading volume of 1,024,409 shares, compared to its average volume of 1,221,153. AMETEK has a fifty-two week low of $63.14 and a fifty-two week high of $92.86. The company has a market capitalization of $19.85 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.60 and a beta of 1.21. The company has a quick ratio of 1.53, a current ratio of 2.17 and a debt-to-equity ratio of 0.51. The firm’s 50 day simple moving average is $88.03 and its 200-day simple moving average is $86.84.

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Friday, September 13th. AMETEK’s payout ratio is 17.02%.

In related news, Director Elizebeth R. Varet sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $85.69, for a total transaction of $342,760.00. Following the completion of the transaction, the director now directly owns 95,670 shares of the company’s stock, valued at approximately $8,197,962.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.80% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in AME. 180 Wealth Advisors LLC raised its position in shares of AMETEK by 4.1% in the 2nd quarter. 180 Wealth Advisors LLC now owns 3,411 shares of the technology company’s stock worth $301,000 after acquiring an additional 134 shares in the last quarter. CENTRAL TRUST Co grew its stake in shares of AMETEK by 4.6% in the 2nd quarter. CENTRAL TRUST Co now owns 3,103 shares of the technology company’s stock valued at $278,000 after buying an additional 137 shares during the period. Berman Capital Advisors LLC grew its stake in shares of AMETEK by 51.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 454 shares of the technology company’s stock valued at $41,000 after buying an additional 154 shares during the period. Sapience Investments LLC grew its stake in shares of AMETEK by 0.4% in the 1st quarter. Sapience Investments LLC now owns 39,405 shares of the technology company’s stock valued at $3,269,000 after buying an additional 155 shares during the period. Finally, Diversified Trust Co grew its stake in shares of AMETEK by 4.3% in the 2nd quarter. Diversified Trust Co now owns 4,200 shares of the technology company’s stock valued at $382,000 after buying an additional 175 shares during the period. 86.05% of the stock is owned by institutional investors and hedge funds.

AMETEK Company Profile

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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