Applied Materials (AMAT) Issues Q2 Earnings Guidance

Applied Materials (NASDAQ:AMAT) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.10-1.18 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.01. The company issued revenue guidance of $4.35-4.55 billion, compared to the consensus revenue estimate of $4.22 billion.

Shares of Applied Materials (AMAT) traded up $2.41 during mid-day trading on Wednesday, hitting $51.96. 21,800,000 shares of the stock traded hands, compared to its average volume of 13,810,000. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57. The company has a market cap of $54,740.00, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 0.97 and a beta of 1.72. Applied Materials has a 12-month low of $34.58 and a 12-month high of $60.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. Applied Materials’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. equities analysts expect that Applied Materials will post 4.04 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 24th will be issued a $0.20 dividend. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 dividend on an annualized basis and a yield of 1.54%. Applied Materials’s payout ratio is currently 12.62%.

A number of analysts have issued reports on AMAT shares. Susquehanna Bancshares upgraded shares of Applied Materials from a neutral rating to a positive rating and lifted their price target for the company from $60.00 to $72.00 in a report on Tuesday, January 16th. Royal Bank of Canada reiterated a buy rating on shares of Applied Materials in a report on Friday, October 27th. Bank of America lifted their price target on shares of Applied Materials from $65.00 to $76.00 and gave the company a buy rating in a report on Wednesday, November 15th. B. Riley reiterated a buy rating and issued a $71.00 price target on shares of Applied Materials in a report on Tuesday, January 16th. Finally, UBS Group upgraded shares of Applied Materials from a neutral rating to a positive rating in a report on Tuesday, January 16th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $62.56.

In related news, Director Stephen R. Forrest sold 4,000 shares of Applied Materials stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $53.67, for a total transaction of $214,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ali Salehpour sold 125,125 shares of Applied Materials stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $51.47, for a total transaction of $6,440,183.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 312,716 shares of company stock valued at $16,218,746. 0.35% of the stock is owned by corporate insiders.

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About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.

Earnings History and Estimates for Applied Materials (NASDAQ:AMAT)

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