AMETEK, Inc. (AME) Expected to Post Quarterly Sales of $1.09 Billion

Analysts expect that AMETEK, Inc. (NYSE:AME) will post $1.09 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for AMETEK’s earnings, with the highest sales estimate coming in at $1.10 billion and the lowest estimate coming in at $1.03 billion. AMETEK reported sales of $972.95 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 12%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, February 1st.

On average, analysts expect that AMETEK will report full-year sales of $1.09 billion for the current financial year, with estimates ranging from $4.19 billion to $4.26 billion. For the next fiscal year, analysts expect that the company will post sales of $4.50 billion per share, with estimates ranging from $4.45 billion to $4.55 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow AMETEK.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. AMETEK had a return on equity of 16.48% and a net margin of 13.37%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis.

Several research firms have recently weighed in on AME. Royal Bank of Canada reissued a “buy” rating and set a $70.00 price objective on shares of AMETEK in a research note on Friday, October 13th. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Monday, November 13th. Stifel Nicolaus reissued a “buy” rating on shares of AMETEK in a research note on Monday, December 11th. Jefferies Group raised their price objective on AMETEK from $66.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Finally, Oppenheimer reissued a “buy” rating and set a $75.00 price objective on shares of AMETEK in a research note on Thursday, December 21st. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. AMETEK presently has a consensus rating of “Buy” and an average target price of $75.83.

In other news, Director Elizebeth R. Varet sold 3,050 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $71.83, for a total value of $219,081.50. Following the completion of the sale, the director now owns 117,930 shares of the company’s stock, valued at $8,470,911.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas M. Montgomery sold 1,800 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $70.35, for a total value of $126,630.00. Following the completion of the sale, the vice president now directly owns 19,947 shares of the company’s stock, valued at approximately $1,403,271.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,815 shares of company stock valued at $2,209,220. 2.10% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of AME. QS Investors LLC boosted its position in AMETEK by 0.9% during the second quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock valued at $172,000 after purchasing an additional 25 shares during the last quarter. M&T Bank Corp raised its holdings in AMETEK by 0.3% during the second quarter. M&T Bank Corp now owns 33,724 shares of the technology company’s stock valued at $2,043,000 after buying an additional 101 shares in the last quarter. Sentry Investment Management LLC raised its holdings in AMETEK by 1.1% during the second quarter. Sentry Investment Management LLC now owns 15,008 shares of the technology company’s stock valued at $909,000 after buying an additional 157 shares in the last quarter. IHT Wealth Management LLC bought a new position in AMETEK during the second quarter valued at about $194,000. Finally, HighTower Advisors LLC raised its holdings in AMETEK by 0.6% during the second quarter. HighTower Advisors LLC now owns 66,111 shares of the technology company’s stock valued at $3,993,000 after buying an additional 390 shares in the last quarter. 84.77% of the stock is owned by institutional investors and hedge funds.

AMETEK (NYSE AME) opened at $76.98 on Monday. AMETEK has a 1 year low of $50.06 and a 1 year high of $77.32. The stock has a market capitalization of $17,790.00, a price-to-earnings ratio of 32.34, a PEG ratio of 2.26 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.59.

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AMETEK 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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Earnings History and Estimates for AMETEK (NYSE:AME)

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