Zacks: Brokerages Anticipate AMTEK, Inc. (AME) Will Post Quarterly Sales of $1.09 Billion
Wall Street brokerages predict that AMTEK, Inc. (NYSE:AME) will report sales of $1.09 billion for the current fiscal quarter, Zacks reports. Six analysts have made estimates for AMTEK’s earnings. The highest sales estimate is $1.10 billion and the lowest is $1.03 billion. AMTEK posted sales of $972.95 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12%. The business is expected to report its next earnings report on Tuesday, February 6th.
According to Zacks, analysts expect that AMTEK will report full year sales of $1.09 billion for the current fiscal year, with estimates ranging from $4.19 billion to $4.26 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $4.50 billion per share, with estimates ranging from $4.45 billion to $4.55 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover AMTEK.
AMTEK (NYSE:AME) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.04. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. AMTEK had a net margin of 13.37% and a return on equity of 16.48%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 EPS.
AMTEK (NYSE AME) opened at $73.79 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.59 and a debt-to-equity ratio of 0.51. The stock has a market cap of $17,098.05, a PE ratio of 31.00, a PEG ratio of 2.17 and a beta of 1.36. AMTEK has a twelve month low of $49.18 and a twelve month high of $74.50.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th were issued a dividend of $0.09 per share. The ex-dividend date was Tuesday, December 5th. This represents a $0.36 annualized dividend and a yield of 0.49%. AMTEK’s dividend payout ratio (DPR) is currently 15.13%.
In other AMTEK news, Director Elizebeth R. Varet sold 3,050 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $71.83, for a total transaction of $219,081.50. Following the completion of the transaction, the director now directly owns 117,930 shares in the company, valued at approximately $8,470,911.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Zapico sold 25,965 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $71.77, for a total transaction of $1,863,508.05. Following the transaction, the insider now owns 200,548 shares of the company’s stock, valued at $14,393,329.96. The disclosure for this sale can be found here. Insiders have sold a total of 30,815 shares of company stock valued at $2,209,220 over the last 90 days. 2.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Bank of Australia grew 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 worth $104,000 after buying an additional 263 shares in the last quarter. BB&T Investment Services Inc. purchased a new stake in shares of AMTEK during the second quarter worth about $107,000. Zions Bancorporation purchased a new stake in shares of AMTEK during the third quarter worth about $150,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of AMTEK during the second quarter worth about $151,000. Finally, Acrospire Investment Management LLC grew its holdings in shares of AMTEK by 104.0% during the second quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock worth $154,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.
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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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