AMTEK, Inc. (AME) Expected to Announce Earnings of $0.62 Per Share
Wall Street brokerages expect that AMTEK, Inc. (NYSE:AME) will report earnings of $0.62 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for AMTEK’s earnings. The lowest EPS estimate is $0.61 and the highest is $0.62. AMTEK posted earnings of $0.56 per share during the same quarter last year, which suggests a positive year over year growth rate of 10.7%. The company is expected to report its next earnings report on Tuesday, November 7th.
On average, analysts expect that AMTEK will report full-year earnings of $2.52 per share for the current fiscal year, with EPS estimates ranging from $2.45 to $2.55. For the next financial year, analysts anticipate that the company will report earnings of $2.80 per share, with EPS estimates ranging from $2.71 to $2.96. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for AMTEK.
AMTEK (NYSE:AME) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. AMTEK had a return on equity of 16.28% and a net margin of 13.26%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share.
A number of research firms recently issued reports on AME. Zacks Investment Research cut AMTEK from a “buy” rating to a “hold” rating in a report on Monday, June 19th. BidaskClub cut AMTEK from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $67.00 price objective on shares of AMTEK in a report on Tuesday, June 6th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.18.
In other news, VP Thomas M. Montgomery sold 1,500 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $64.49, for a total value of $96,735.00. Following the completion of the transaction, the vice president now directly owns 21,747 shares of the company’s stock, valued at approximately $1,402,464.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Wesley Hardin sold 2,600 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $64.51, for a total value of $167,726.00. Following the completion of the transaction, the insider now directly owns 59,698 shares of the company’s stock, valued at $3,851,117.98. The disclosure for this sale can be found here. Insiders sold a total of 7,100 shares of company stock valued at $454,181 over the last quarter. Company insiders own 2.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AME. Janney Montgomery Scott LLC raised its position in shares of AMTEK by 47.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 7,873 shares of the technology company’s stock worth $426,000 after acquiring an additional 2,548 shares in the last quarter. Strs Ohio raised its position in shares of AMTEK by 1.9% in the 1st quarter. Strs Ohio now owns 12,613 shares of the technology company’s stock worth $682,000 after acquiring an additional 233 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of AMTEK by 10.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 618,711 shares of the technology company’s stock worth $33,460,000 after acquiring an additional 59,494 shares in the last quarter. Meadow Creek Investment Management LLC raised its position in shares of AMTEK by 6.3% in the 1st quarter. Meadow Creek Investment Management LLC now owns 5,968 shares of the technology company’s stock worth $323,000 after acquiring an additional 352 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in shares of AMTEK in the 1st quarter worth $5,039,000. 85.65% of the stock is owned by hedge funds and other institutional investors.
Shares of AMTEK (AME) traded down 0.15% during trading on Friday, hitting $65.16. The company had a trading volume of 283,526 shares. The stock’s 50-day moving average price is $63.21 and its 200 day moving average price is $59.45. The company has a market capitalization of $15.04 billion, a P/E ratio of 28.59 and a beta of 1.31. AMTEK has a 52 week low of $43.98 and a 52 week high of $65.84.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, September 14th. AMTEK’s dividend payout ratio is 15.79%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AMTEK Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMTEK Inc. and related companies with MarketBeat.com's FREE daily email newsletter.