Wall Street brokerages expect AMTEK, Inc. (NYSE:AME) to report $1.04 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for AMTEK’s earnings, with the lowest sales estimate coming in at $1.03 billion and the highest estimate coming in at $1.05 billion. AMTEK posted sales of $945.03 million during the same quarter last year, which would indicate a positive year over year growth rate of 10%. The firm is expected to issue its next quarterly earnings results on Tuesday, November 7th.

According to Zacks, analysts expect that AMTEK will report full year sales of $1.04 billion for the current year, with estimates ranging from $4.07 billion to $4.22 billion. For the next financial year, analysts forecast that the business will post sales of $4.41 billion per share, with estimates ranging from $4.21 billion to $4.50 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for AMTEK.

AMTEK (NYSE:AME) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.03. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the company earned $0.59 EPS. The business’s revenue was up 8.9% on a year-over-year basis.

Several equities research analysts have commented on AME shares. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Monday, June 5th. BMO Capital Markets reaffirmed a “buy” rating and set a $67.00 price objective on shares of AMTEK in a report on Tuesday, June 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $67.00 price objective on shares of AMTEK in a report on Tuesday, June 6th. Finally, BidaskClub downgraded shares of AMTEK from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. AMTEK has a consensus rating of “Buy” and a consensus price target of $65.18.

In other AMTEK news, insider John Wesley Hardin sold 2,600 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $64.51, for a total transaction of $167,726.00. Following the transaction, the insider now directly owns 59,698 shares in the company, valued at $3,851,117.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas M. Montgomery sold 1,500 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $64.49, for a total transaction of $96,735.00. Following the transaction, the vice president now owns 21,747 shares in the company, valued at $1,402,464.03. The disclosure for this sale can be found here. Insiders have sold 7,100 shares of company stock worth $454,181 over the last quarter. Company insiders own 2.10% of the company’s stock.

Several institutional investors have recently modified their holdings of AME. Strs Ohio grew its holdings in shares of AMTEK by 1.9% in the first quarter. Strs Ohio now owns 12,613 shares of the technology company’s stock worth $682,000 after purchasing an additional 233 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of AMTEK by 10.6% in the first quarter. UBS Asset Management Americas Inc. now owns 618,711 shares of the technology company’s stock worth $33,460,000 after purchasing an additional 59,494 shares during the last quarter. Meadow Creek Investment Management LLC grew its holdings in shares of AMTEK by 6.3% in the first quarter. Meadow Creek Investment Management LLC now owns 5,968 shares of the technology company’s stock worth $323,000 after purchasing an additional 352 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of AMTEK in the first quarter worth approximately $5,039,000. Finally, Sei Investments Co. grew its holdings in shares of AMTEK by 57.2% in the first quarter. Sei Investments Co. now owns 178,668 shares of the technology company’s stock worth $9,662,000 after purchasing an additional 65,025 shares during the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Shares of AMTEK (NYSE:AME) opened at 65.33 on Friday. The firm has a market cap of $15.08 billion, a PE ratio of 28.67 and a beta of 1.31. The firm has a 50-day moving average of $63.32 and a 200 day moving average of $59.53. AMTEK has a 52 week low of $43.98 and a 52 week high of $65.84.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Thursday, September 14th. AMTEK’s dividend payout ratio is currently 15.79%.

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About AMTEK

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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Earnings History and Estimates for AMTEK (NYSE:AME)

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