AMETEK (NYSE:AME) Updates Q3 2022 Earnings Guidance

AMETEK (NYSE:AMEGet Rating) issued an update on its third quarter 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.36-$1.38 for the period, compared to the consensus EPS estimate of $1.37. The company issued revenue guidance of -. AMETEK also updated its FY 2022 guidance to $5.46-$5.54 EPS.

AMETEK Trading Up 0.7 %

Shares of AMETEK stock traded up $0.87 during trading hours on Friday, hitting $126.25. The company’s stock had a trading volume of 789,817 shares, compared to its average volume of 1,076,158. The business has a fifty day moving average of $115.29 and a 200 day moving average of $124.48. The company has a market capitalization of $29.15 billion, a PE ratio of 26.86, a P/E/G ratio of 2.53 and a beta of 1.26. AMETEK has a 1-year low of $106.17 and a 1-year high of $148.07. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.31.

AMETEK (NYSE:AMEGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The technology company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.09. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.46 billion. AMETEK had a net margin of 18.49% and a return on equity of 18.20%. The business’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the business earned $1.15 EPS. As a group, equities analysts forecast that AMETEK will post 5.5 EPS for the current year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.70%. AMETEK’s payout ratio is currently 18.72%.

AMETEK announced that its Board of Directors has authorized a stock buyback plan on Friday, May 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AME shares. Mizuho lifted their price objective on shares of AMETEK from $135.00 to $140.00 and gave the company a buy rating in a research report on Wednesday. KeyCorp lowered their target price on shares of AMETEK from $155.00 to $145.00 in a research note on Wednesday, May 4th. Loop Capital lowered their price objective on shares of AMETEK from $170.00 to $155.00 and set a buy rating on the stock in a research note on Tuesday, July 19th. Robert W. Baird cut their price target on shares of AMETEK from $156.00 to $140.00 and set a neutral rating on the stock in a report on Tuesday, May 10th. Finally, Royal Bank of Canada restated an outperform rating on shares of AMETEK in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $147.13.

Institutional Trading of AMETEK

Several large investors have recently added to or reduced their stakes in the business. Covestor Ltd boosted its holdings in shares of AMETEK by 84.3% during the 1st quarter. Covestor Ltd now owns 212 shares of the technology company’s stock worth $28,000 after buying an additional 97 shares during the period. Zions Bancorporation N.A. raised its stake in AMETEK by 726.5% during the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the technology company’s stock valued at $37,000 after purchasing an additional 247 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of AMETEK by 31.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 439 shares of the technology company’s stock valued at $59,000 after buying an additional 105 shares in the last quarter. Fund Management at Engine No. 1 LLC acquired a new position in shares of AMETEK in the 1st quarter valued at $261,000. Finally, Delphia USA Inc. bought a new stake in shares of AMETEK in the 1st quarter worth about $266,000. 86.72% of the stock is owned by institutional investors.

About AMETEK

(Get Rating)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

Featured Stories

Earnings History and Estimates for AMETEK (NYSE:AME)

Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.