AMTEK, Inc. (AME) Updates Q4 Earnings Guidance
AMTEK, Inc. (NYSE:AME) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.66-0.67 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.65.
Several research firms recently commented on AME. Zacks Investment Research lowered AMTEK from a buy rating to a hold rating in a research report on Monday, October 16th. Jefferies Group LLC boosted their target price on AMTEK from $66.00 to $77.00 and gave the company a buy rating in a research report on Friday, October 13th. Royal Bank Of Canada restated a buy rating and set a $70.00 target price on shares of AMTEK in a research report on Friday, October 13th. Robert W. Baird restated a buy rating and set a $70.00 target price on shares of AMTEK in a research report on Friday, October 6th. Finally, Stifel Nicolaus set a $70.00 target price on AMTEK and gave the company a buy rating in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $69.00.
AMTEK (NYSE:AME) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share 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 company posted $0.59 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis.
In related 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 completion of the transaction, the insider now owns 59,698 shares of the company’s stock, valued at approximately $3,851,117.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas M. Montgomery sold 1,500 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $64.49, for a total transaction of $96,735.00. Following the transaction, the vice president now directly owns 21,747 shares of the company’s stock, valued at approximately $1,402,464.03. The disclosure for this sale can be found here. In the last three months, insiders sold 173,255 shares of company stock valued at $11,483,064. Corporate insiders own 2.10% of the company’s stock.
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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