$1.03 Billion in Sales Expected for AMTEK, Inc. (AME) This Quarter
Brokerages expect AMTEK, Inc. (NYSE:AME) to report sales of $1.03 billion for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for AMTEK’s earnings. The highest sales estimate is $1.04 billion and the lowest is $1.02 billion. AMTEK posted sales of $977.71 million during the same quarter last year, which suggests a positive year over year growth rate of 5.3%. The company is scheduled to report its next quarterly earnings results on Thursday, August 3rd.
On average, analysts expect that AMTEK will report full-year sales of $1.03 billion for the current fiscal year, with estimates ranging from $4.05 billion to $4.15 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $4.29 billion per share, with estimates ranging from $4.21 billion to $4.36 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow AMTEK.
AMTEK (NYSE:AME) last posted its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $961.36 million. AMTEK had a net margin of 13.24% and a return on equity of 16.20%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS.
AME has been the topic of several research reports. Stifel Nicolaus reissued a “buy” rating and set a $69.00 price objective (up previously from $66.00) on shares of AMTEK in a research note on Thursday, June 8th. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, April 25th. BMO Capital Markets reissued a “buy” rating and set a $65.00 price objective on shares of AMTEK in a research note on Monday, March 27th. Jefferies Group LLC reissued a “buy” rating and set a $66.00 price objective (up previously from $63.00) on shares of AMTEK in a research note on Wednesday, May 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $67.00 price objective on shares of AMTEK in a research note on Tuesday, June 6th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $62.90.
In other AMTEK news, VP William D. Eginton sold 14,598 shares of AMTEK stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $60.00, for a total value of $875,880.00. Following the completion of the transaction, the vice president now directly owns 54,290 shares of the company’s stock, valued at $3,257,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Malone sold 1,190 shares of AMTEK stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $59.65, for a total transaction of $70,983.50. Following the completion of the transaction, the director now directly owns 4,300 shares of the company’s stock, valued at $256,495. The disclosure for this sale can be found here. Insiders sold 83,956 shares of company stock valued at $5,133,440 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of AME. Benjamin F. Edwards & Company Inc. boosted its position in shares of AMTEK by 0.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,229 shares of the technology company’s stock valued at $175,000 after buying an additional 19 shares during the period. OppenheimerFunds Inc. boosted its position in AMTEK by 0.3% in the first quarter. OppenheimerFunds Inc. now owns 8,735 shares of the technology company’s stock valued at $472,000 after buying an additional 30 shares during the last quarter. First Manhattan Co. boosted its position in AMTEK by 0.5% in the first quarter. First Manhattan Co. now owns 6,946 shares of the technology company’s stock valued at $331,000 after buying an additional 36 shares during the last quarter. Cadence Capital Management LLC boosted its position in AMTEK by 0.6% in the first quarter. Cadence Capital Management LLC now owns 6,898 shares of the technology company’s stock valued at $373,000 after buying an additional 41 shares during the last quarter. Finally, Morgan Dempsey Capital Management LLC boosted its position in AMTEK by 1.7% in the first quarter. Morgan Dempsey Capital Management LLC now owns 3,464 shares of the technology company’s stock valued at $187,000 after buying an additional 59 shares during the last quarter. 89.72% of the stock is owned by institutional investors and hedge funds.
AMTEK (AME) traded up 0.83% during midday trading on Wednesday, reaching $60.59. 304,109 shares of the company’s stock traded hands. The firm’s 50-day moving average is $60.87 and its 200 day moving average is $54.73. AMTEK has a 52-week low of $43.28 and a 52-week high of $62.89. The firm has a market cap of $13.94 billion, a PE ratio of 27.31 and a beta of 1.29.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.36 annualized dividend and a yield of 0.60%. AMTEK’s dividend payout ratio (DPR) is presently 16.22%.
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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.
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