AMTEK, Inc. (AME) Expected to Post Quarterly Sales of $1.04 Billion
Equities analysts predict that AMTEK, Inc. (NYSE:AME) will announce $1.04 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for AMTEK’s earnings. The highest sales estimate is $1.05 billion and the lowest is $1.03 billion. AMTEK reported sales of $945.03 million during the same quarter last year, which would indicate a positive year over year growth rate of 10%. The company is expected to issue its next earnings results before the market opens on Thursday, November 2nd.
According to Zacks, analysts expect that AMTEK will report full-year sales of $1.04 billion for the current financial year, with estimates ranging from $4.14 billion to $4.23 billion. For the next financial year, analysts expect that the firm will report sales of $4.44 billion per share, with estimates ranging from $4.35 billion to $4.50 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover AMTEK.
AMTEK (NYSE:AME) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating 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 prior year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis.
A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of AMTEK from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Jefferies Group LLC lifted their price target on shares of AMTEK from $66.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Royal Bank Of Canada restated a “buy” rating and issued a $70.00 price target on shares of AMTEK in a research note on Friday, October 13th. Robert W. Baird restated a “buy” rating and issued a $70.00 price target on shares of AMTEK in a research note on Friday, October 6th. Finally, Stifel Nicolaus set a $70.00 price target on shares of AMTEK and gave the stock a “buy” rating in a research note on Friday, October 6th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. AMTEK has an average rating of “Buy” and an average price target of $67.82.
AMTEK (NYSE AME) opened at 68.49 on Tuesday. The firm has a market cap of $15.81 billion, a PE ratio of 30.05 and a beta of 1.31. The stock has a 50 day moving average of $66.19 and a 200 day moving average of $62.02. AMTEK has a one year low of $43.98 and a one year high of $68.84.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.36 annualized dividend and a yield of 0.53%. AMTEK’s payout ratio is 15.79%.
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In other news, Director Elizebeth R. Varet sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $66.30, for a total transaction of $198,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Wesley Hardin sold 2,600 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $3,851,117.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 173,255 shares of company stock valued at $11,483,064. 2.10% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. IHT Wealth Management LLC acquired a new position in shares of AMTEK during the second quarter valued at $194,000. Commonwealth Bank of Australia boosted its holdings in shares of AMTEK by 17.7% during the second quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock valued at $104,000 after acquiring an additional 263 shares during the period. BB&T Investment Services Inc. acquired a new position in shares of AMTEK during the second quarter valued at $107,000. Independence Advisors LLC acquired a new position in shares of AMTEK during the second quarter valued at $299,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of AMTEK during the second quarter valued at $151,000. 85.60% of the stock is owned by institutional investors.
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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