$1.04 Billion in Sales Expected for AMTEK, Inc. (AME) This Quarter
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%.
COPYRIGHT VIOLATION WARNING: “$1.04 Billion in Sales Expected for AMTEK, Inc. (AME) This Quarter” was originally posted by American Banking News and is the property of of American Banking News. If you are reading this article on another domain, it was illegally copied and republished in violation of United States and international copyright law. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/09/17/1-04-billion-in-sales-expected-for-amtek-inc-ame-this-quarter.html.
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.