AMTEK, Inc. (NYSE:AME) Set to Announce Quarterly Earnings on Wednesday
AMTEK, Inc. (NYSE:AME) is scheduled to be announcing its earnings results before the market opens on Wednesday, August 2nd. Analysts expect the company to announce earnings of $0.62 per share for the quarter. AMTEK has set its Q2 guidance at $0.60-0.62 EPS and its FY17 guidance at $2.40-2.48 EPS.
AMTEK (NYSE:AME) last issued its earnings results on Tuesday, May 2nd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AMTEK had a return on equity of 16.20% and a net margin of 13.24%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $961.36 million. During the same period last year, the company earned $0.57 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, analysts expect AMTEK to post $2.48 EPS for the current fiscal year and $2.73 EPS for the next fiscal year.
Shares of AMTEK, Inc. (NYSE:AME) opened at 61.78 on Wednesday. AMTEK, Inc. has a 52 week low of $43.30 and a 52 week high of $62.89. The firm has a 50 day moving average price of $61.41 and a 200-day moving average price of $56.62. The firm has a market capitalization of $14.22 billion, a P/E ratio of 27.84 and a beta of 1.33.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were given a $0.09 dividend. The ex-dividend date was Wednesday, June 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.58%. AMTEK’s dividend payout ratio is currently 16.22%.
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AME has been the topic of several recent research reports. Zacks Investment Research downgraded AMTEK from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th. BMO Capital Markets restated an “outperform” rating and issued a $67.00 price objective (up from $65.00) on shares of AMTEK in a research report on Wednesday, May 3rd. Jefferies Group LLC restated a “buy” rating and issued a $66.00 price objective (up from $63.00) on shares of AMTEK in a research report on Wednesday, May 3rd. Morgan Stanley upped their price objective on AMTEK from $57.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, May 8th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $67.00 price objective on shares of AMTEK in a research report on Tuesday, June 6th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. AMTEK presently has an average rating of “Buy” and an average target price of $63.18.
In related news, Director James R. Malone sold 1,190 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $59.65, for a total value of $70,983.50. Following the completion of the transaction, the director now directly owns 4,300 shares in the company, valued at $256,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $62.66, for a total value of $187,980.00. Following the completion of the transaction, the director now owns 120,880 shares of the company’s stock, valued at $7,574,340.80. 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 quarter. Insiders own 2.10% of the company’s stock.
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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