FY2017 EPS Estimates for AMTEK, Inc. (AME) Lifted by KeyCorp
AMTEK, Inc. (NYSE:AME) – KeyCorp upped their FY2017 earnings per share (EPS) estimates for shares of AMTEK in a research note issued on Thursday. KeyCorp analyst S. Barger now expects that the technology company will post earnings per share of $2.58 for the year, up from their previous forecast of $2.52. KeyCorp also issued estimates for AMTEK’s Q3 2018 earnings at $0.70 EPS, Q4 2018 earnings at $0.71 EPS, FY2018 earnings at $2.80 EPS and FY2019 earnings at $3.02 EPS.
AMTEK (NYSE:AME) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. AMTEK had a return on equity of 16.48% and a net margin of 13.37%. AMTEK’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 earnings per share.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research raised AMTEK from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Tuesday, September 5th. Royal Bank Of Canada reiterated a “buy” rating and issued a $70.00 price objective on shares of AMTEK in a research note on Friday, October 13th. Jefferies Group LLC upped their price objective on AMTEK from $66.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, BidaskClub lowered AMTEK from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $71.60.
Shares of AMTEK (AME) opened at $67.66 on Monday. The stock has a market capitalization of $15,637.39, a price-to-earnings ratio of 27.17, a PEG ratio of 2.30 and a beta of 1.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.59 and a quick ratio of 1.16.
A number of hedge funds have recently added to or reduced their stakes in the stock. QS Investors LLC lifted its holdings in AMTEK by 0.9% in the second quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock valued at $172,000 after buying an additional 25 shares during the period. OppenheimerFunds Inc. increased its position in shares of AMTEK by 0.3% during the first quarter. OppenheimerFunds Inc. now owns 8,735 shares of the technology company’s stock worth $472,000 after acquiring an additional 30 shares in the last quarter. Contravisory Investment Management Inc. grew its position in AMTEK by 0.7% in the 2nd quarter. Contravisory Investment Management Inc. now owns 4,798 shares of the technology company’s stock worth $291,000 after purchasing an additional 32 shares in the last quarter. Cadence Capital Management LLC grew its position in AMTEK by 0.9% in the 2nd quarter. Cadence Capital Management LLC now owns 6,960 shares of the technology company’s stock worth $422,000 after purchasing an additional 62 shares in the last quarter. Finally, Shufro Rose & Co. LLC grew its position in AMTEK by 1.4% in the 2nd quarter. Shufro Rose & Co. LLC now owns 5,224 shares of the technology company’s stock worth $316,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 85.67% of the company’s stock.
In other AMTEK news, insider Frank S. Hermance sold 150,840 shares of the business’s 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 sale, the insider now owns 2,191,341 shares of the company’s stock, valued at $145,461,215.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas C. Marecic sold 12,315 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $66.36, for a total transaction of $817,223.40. Following the sale, the insider now directly owns 38,367 shares in the company, valued at approximately $2,546,034.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 169,155 shares of company stock valued at $11,218,603. 2.10% of the stock is owned by company insiders.
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.
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.