AMETEK, Inc. (AME) to Post FY2018 Earnings of $3.01 Per Share, KeyCorp Forecasts

AMETEK, Inc. (NYSE:AME) – Equities researchers at KeyCorp lifted their FY2018 earnings per share (EPS) estimates for shares of AMETEK in a research note issued on Thursday. KeyCorp analyst S. Barger now forecasts that the technology company will post earnings per share of $3.01 for the year, up from their previous estimate of $2.80. KeyCorp has a “Buy” rating and a $82.00 price target on the stock.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $1.04 billion. During the same period in the prior year, the company posted $0.56 EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year.

A number of other analysts also recently commented on the company. Royal Bank of Canada restated a “buy” rating and issued a $70.00 target price 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 target price for the company in a report on Monday, November 13th. Stifel Nicolaus reaffirmed a “buy” rating on shares of AMETEK in a report on Monday, December 11th. Jefferies Group increased their price target on AMETEK from $66.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 13th. Finally, Oppenheimer reiterated a “buy” rating and issued a $75.00 price objective on shares of AMETEK in a research report on Thursday, December 21st. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $75.83.

AMETEK (NYSE AME) traded up $0.91 during trading on Monday, reaching $76.98. The company’s stock had a trading volume of 1,649,600 shares, compared to its average volume of 1,182,608. AMETEK has a twelve month low of $50.06 and a twelve month high of $77.32. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The stock has a market cap of $17,790.00, a P/E ratio of 32.34, a PEG ratio of 2.24 and a beta of 1.36.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Catawba Capital Management VA purchased a new position in shares of AMETEK during the fourth quarter worth about $208,000. State of Alaska Department of Revenue grew its holdings in shares of AMETEK by 66.6% during the fourth quarter. State of Alaska Department of Revenue now owns 34,062 shares of the technology company’s stock worth $2,467,000 after buying an additional 13,620 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of AMETEK by 3.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 823,096 shares of the technology company’s stock worth $59,650,000 after buying an additional 24,863 shares during the last quarter. Creative Planning grew its holdings in shares of AMETEK by 18.5% during the fourth quarter. Creative Planning now owns 6,411 shares of the technology company’s stock worth $465,000 after buying an additional 999 shares during the last quarter. Finally, National Pension Service grew its holdings in shares of AMETEK by 0.9% during the fourth quarter. National Pension Service now owns 249,110 shares of the technology company’s stock worth $18,053,000 after buying an additional 2,344 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider David A. Zapico sold 25,965 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Elizebeth R. Varet sold 3,050 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $71.83, for a total value of $219,081.50. Following the transaction, the director now directly owns 117,930 shares in the company, valued at approximately $8,470,911.90. The disclosure for this sale can be found here. Insiders have sold 30,815 shares of company stock worth $2,209,220 in the last quarter. Insiders own 2.10% of the company’s stock.

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About AMETEK

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.

Earnings History and Estimates for AMETEK (NYSE:AME)

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