AMETEK (NYSE:AME – Get Rating) issued an update on its third quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.36-$1.38 for the period, compared to the consensus estimate of $1.37. The company issued revenue guidance of -. AMETEK also updated its FY 2022 guidance to $5.46-$5.54 EPS.
AMETEK Stock Performance
AME stock traded up $2.61 during mid-day trading on Tuesday, reaching $124.99. The company had a trading volume of 54,721 shares, compared to its average volume of 861,223. The stock’s 50-day simple moving average is $114.82 and its two-hundred day simple moving average is $124.67. The stock has a market capitalization of $28.86 billion, a P/E ratio of 27.96, a P/E/G ratio of 2.51 and a beta of 1.26. The company has a quick ratio of 0.88, a current ratio of 1.43 and a debt-to-equity ratio of 0.32. AMETEK has a one year low of $106.17 and a one year high of $148.07.
AMETEK (NYSE:AME – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The technology company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.06. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. AMETEK had a return on equity of 17.82% and a net margin of 18.02%. The business’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 earnings per share. Research analysts anticipate that AMETEK will post 5.43 EPS for the current year.
AMETEK Dividend Announcement
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The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Friday, June 10th were given a $0.22 dividend. The ex-dividend date was Thursday, June 9th. This represents a $0.88 dividend on an annualized basis and a yield of 0.70%. AMETEK’s dividend payout ratio (DPR) is 19.64%.
AMETEK declared that its Board of Directors has authorized a stock repurchase program on Friday, May 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
AME has been the subject of a number of analyst reports. Bank of America cut shares of AMETEK from a buy rating to a neutral rating and reduced their target price for the company from $170.00 to $122.00 in a research note on Monday, July 11th. Loop Capital decreased their target price on shares of AMETEK from $170.00 to $155.00 and set a buy rating for the company in a research report on Tuesday, July 19th. Mizuho decreased their target price on shares of AMETEK from $159.00 to $135.00 and set a buy rating for the company in a research report on Monday, July 18th. Robert W. Baird decreased their target price on shares of AMETEK from $156.00 to $140.00 and set a neutral rating for the company in a research report on Tuesday, May 10th. Finally, KeyCorp decreased their target price on shares of AMETEK from $155.00 to $145.00 in a research report on Wednesday, May 4th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $149.70.
Institutional Trading of AMETEK
A number of hedge funds have recently bought and sold shares of AME. Orion Portfolio Solutions LLC raised its stake in shares of AMETEK by 4.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 3,840 shares of the technology company’s stock valued at $511,000 after buying an additional 152 shares in the last quarter. Beacon Pointe Advisors LLC raised its stake in shares of AMETEK by 90.5% in the 1st quarter. Beacon Pointe Advisors LLC now owns 3,825 shares of the technology company’s stock valued at $509,000 after buying an additional 1,817 shares in the last quarter. Quantamental Technologies LLC acquired a new position in shares of AMETEK in the 1st quarter valued at $457,000. Brown Brothers Harriman & Co. raised its stake in shares of AMETEK by 23.7% in the 1st quarter. Brown Brothers Harriman & Co. now owns 3,035 shares of the technology company’s stock valued at $404,000 after buying an additional 582 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of AMETEK by 45.1% in the 1st quarter. Cetera Investment Advisers now owns 2,974 shares of the technology company’s stock valued at $396,000 after buying an additional 924 shares in the last quarter. 86.72% of the stock is owned by institutional investors.
AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). The company’s EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical 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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