Zacks: Analysts Anticipate Applied Materials, Inc. (NASDAQ:AMAT) to Announce $1.76 EPS

Wall Street brokerages expect Applied Materials, Inc. (NASDAQ:AMAT) to report $1.76 earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for Applied Materials’ earnings, with estimates ranging from $1.75 to $1.79. Applied Materials reported earnings per share of $1.06 during the same quarter last year, which would indicate a positive year over year growth rate of 66%. The company is scheduled to report its next quarterly earnings report on Thursday, August 12th.

According to Zacks, analysts expect that Applied Materials will report full year earnings of $6.53 per share for the current financial year, with EPS estimates ranging from $6.31 to $6.61. For the next year, analysts anticipate that the business will report earnings of $7.30 per share, with EPS estimates ranging from $6.89 to $7.86. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Applied Materials.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Wednesday, May 19th. The manufacturing equipment provider reported $1.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.12. The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Applied Materials had a return on equity of 45.08% and a net margin of 22.35%. The business’s revenue was up 41.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS.

A number of analysts have recently commented on the company. Cowen boosted their price target on Applied Materials from $140.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 7th. B. Riley boosted their price target on Applied Materials from $150.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, April 5th. KeyCorp boosted their price target on Applied Materials from $144.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 7th. Susquehanna boosted their price target on Applied Materials from $155.00 to $170.00 and gave the stock a “positive” rating in a research report on Friday, May 21st. Finally, Wells Fargo & Company boosted their price target on Applied Materials from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 7th. Two research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Applied Materials has an average rating of “Buy” and a consensus target price of $153.58.

In other Applied Materials news, CEO Gary E. Dickerson sold 105,184 shares of the stock in a transaction on Friday, April 9th. The stock was sold at an average price of $140.00, for a total value of $14,725,760.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas J. Iannotti sold 15,000 shares of the stock in a transaction on Wednesday, March 31st. The stock was sold at an average price of $131.95, for a total value of $1,979,250.00. The disclosure for this sale can be found here. Insiders sold a total of 321,443 shares of company stock valued at $44,694,744 over the last 90 days. 0.37% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of AMAT. Norges Bank purchased a new stake in Applied Materials in the 4th quarter worth $1,096,543,000. FMR LLC boosted its holdings in shares of Applied Materials by 65.6% during the 4th quarter. FMR LLC now owns 15,966,445 shares of the manufacturing equipment provider’s stock valued at $1,377,905,000 after purchasing an additional 6,325,128 shares during the last quarter. Whale Rock Capital Management LLC bought a new position in shares of Applied Materials during the 1st quarter valued at about $403,729,000. Putnam Investments LLC boosted its holdings in shares of Applied Materials by 219.1% during the 1st quarter. Putnam Investments LLC now owns 4,080,100 shares of the manufacturing equipment provider’s stock valued at $545,101,000 after purchasing an additional 2,801,305 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Applied Materials during the 1st quarter valued at about $255,171,000. Institutional investors and hedge funds own 78.39% of the company’s stock.

Applied Materials stock traded up $2.51 during trading hours on Thursday, hitting $137.16. 6,158,696 shares of the stock traded hands, compared to its average volume of 9,642,751. The business’s 50-day moving average price is $133.48. The company has a current ratio of 3.10, a quick ratio of 2.26 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $125.36 billion, a P/E ratio of 28.11, a PEG ratio of 1.19 and a beta of 1.45. Applied Materials has a one year low of $54.15 and a one year high of $146.00.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, May 27th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.70%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, May 26th. Applied Materials’s dividend payout ratio is 23.02%.

Applied Materials Company Profile

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

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Earnings History and Estimates for Applied Materials (NASDAQ:AMAT)

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