Mettler-Toledo International, Inc. (MTD) Expected to Post Quarterly Sales of $683.09 Million
Wall Street brokerages expect Mettler-Toledo International, Inc. (NYSE:MTD) to announce $683.09 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Mettler-Toledo International’s earnings, with the lowest sales estimate coming in at $680.00 million and the highest estimate coming in at $685.25 million. Mettler-Toledo International reported sales of $650.60 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5%. The business is expected to report its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Mettler-Toledo International will report full-year sales of $683.09 million for the current fiscal year, with estimates ranging from $2.68 billion to $2.70 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.85 billion per share, with estimates ranging from $2.83 billion to $2.88 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Mettler-Toledo International.
Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $3.92 EPS for the quarter, topping the consensus estimate of $3.89 by $0.03. The business had revenue of $653.70 million for the quarter, compared to analyst estimates of $646.68 million. Mettler-Toledo International had a return on equity of 95.28% and a net margin of 16.60%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.22 EPS.
A number of research firms recently commented on MTD. BidaskClub raised Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Monday, August 14th. Zacks Investment Research upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $665.00 target price on the stock in a research report on Wednesday, June 7th. Jefferies Group LLC reiterated a “hold” rating and set a $550.00 target price on shares of Mettler-Toledo International in a research report on Thursday, July 27th. Finally, Wells Fargo & Company upgraded Mettler-Toledo International from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 12th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $569.80.
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In other news, insider William P. Donnelly sold 2,845 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $576.92, for a total value of $1,641,337.40. Following the transaction, the insider now directly owns 2,345 shares in the company, valued at approximately $1,352,877.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Simon Kirk sold 838 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $605.65, for a total value of $507,534.70. Following the completion of the transaction, the insider now owns 1,998 shares in the company, valued at $1,210,088.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,466 shares of company stock worth $15,607,039. Company insiders own 5.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Airain ltd purchased a new stake in shares of Mettler-Toledo International during the 2nd quarter valued at about $2,958,000. Morgan Stanley raised its holdings in shares of Mettler-Toledo International by 37.8% during the 1st quarter. Morgan Stanley now owns 269,128 shares of the medical instruments supplier’s stock valued at $128,890,000 after buying an additional 73,762 shares during the period. Toronto Dominion Bank raised its holdings in shares of Mettler-Toledo International by 54.6% during the 1st quarter. Toronto Dominion Bank now owns 7,000 shares of the medical instruments supplier’s stock valued at $3,352,000 after buying an additional 2,472 shares during the period. Teza Capital Management LLC purchased a new stake in shares of Mettler-Toledo International during the 1st quarter valued at about $687,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Mettler-Toledo International by 1.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 292,091 shares of the medical instruments supplier’s stock valued at $171,949,000 after buying an additional 2,977 shares during the period. Institutional investors own 93.14% of the company’s stock.
Shares of Mettler-Toledo International (NYSE MTD) opened at 612.70 on Friday. The stock has a market capitalization of $15.73 billion, a price-to-earnings ratio of 37.68 and a beta of 1.11. The company has a 50-day moving average of $589.33 and a 200 day moving average of $548.76. Mettler-Toledo International has a one year low of $386.01 and a one year high of $618.13.
About Mettler-Toledo International
Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications.
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