Zacks: Brokerages Anticipate AMTEK, Inc. (AME) to Announce $0.62 Earnings Per Share
Wall Street analysts expect AMTEK, Inc. (NYSE:AME) to post earnings per share (EPS) of $0.62 for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for AMTEK’s earnings. The lowest EPS estimate is $0.61 and the highest is $0.62. AMTEK reported earnings of $0.56 per share in the same quarter last year, which would indicate a positive year over year growth rate of 10.7%. The business is scheduled to announce its next quarterly 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 forecast that the business will post earnings of $2.80 per share, with EPS estimates ranging from $2.71 to $2.96. Zacks Investment Research’s earnings per share 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. AMTEK had a return on equity of 16.28% and a net margin of 13.26%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the firm earned $0.59 EPS. AMTEK’s quarterly revenue was up 8.9% compared to the same quarter last year.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded AMTEK from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a report on Thursday, September 21st. BMO Capital Markets boosted their price target on AMTEK from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Oppenheimer Holdings Inc. increased their price target on AMTEK from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Finally, Jefferies Group LLC restated a “buy” rating and set a $66.00 price target on shares of AMTEK in a report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $65.27.
In related news, VP Thomas M. Montgomery sold 1,500 shares of AMTEK stock in a transaction on Monday, August 7th. The shares were sold at an average price of $64.49, for a total value of $96,735.00. Following the completion of the sale, the vice president now owns 21,747 shares of the company’s stock, valued at approximately $1,402,464.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Frank S. Hermance sold 150,840 shares of AMTEK stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $66.38, for a total transaction of $10,012,759.20. Following the completion of the sale, the insider now directly owns 2,191,341 shares of the company’s stock, valued at approximately $145,461,215.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 170,255 shares of company stock valued at $11,284,164. Corporate insiders own 2.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in AMTEK by 1.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 633,825 shares of the technology company’s stock worth $38,391,000 after buying an additional 9,831 shares during the last quarter. State Treasurer State of Michigan increased its position in shares of AMTEK by 0.3% during the second quarter. State Treasurer State of Michigan now owns 75,584 shares of the technology company’s stock worth $4,578,000 after acquiring an additional 200 shares in the last quarter. BlackRock Inc. increased its position in shares of AMTEK by 3,109.3% during the first quarter. BlackRock Inc. now owns 13,823,451 shares of the technology company’s stock worth $747,572,000 after acquiring an additional 13,392,716 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of AMTEK by 504.5% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 37,307 shares of the technology company’s stock worth $2,260,000 after acquiring an additional 31,135 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of AMTEK by 20.0% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 58,835 shares of the technology company’s stock worth $3,564,000 after acquiring an additional 9,817 shares in the last quarter. Institutional investors and hedge funds own 85.62% of the company’s stock.
Shares of AMTEK (NYSE AME) opened at 66.29 on Wednesday. The firm has a market capitalization of $15.30 billion, a P/E ratio of 29.09 and a beta of 1.31. AMTEK has a one year low of $43.98 and a one year high of $66.89. The firm’s 50-day moving average is $64.29 and its 200 day moving average is $60.62.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.09 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.54%. AMTEK’s dividend payout ratio (DPR) is presently 15.79%.
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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