AMETEK (NYSE:AME) Releases FY 2022 Earnings Guidance

AMETEK (NYSE:AMEGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.46-$5.54 for the period, compared to the consensus earnings per share estimate of $5.43. The company issued revenue guidance of -. AMETEK also updated its FY22 guidance to $5.46-5.54 EPS.

AMETEK Stock Performance

AME stock traded up $0.87 on Friday, reaching $126.25. 789,817 shares of the company were exchanged, compared to its average volume of 1,076,158. AMETEK has a 12 month low of $106.17 and a 12 month high of $148.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.48 and a quick ratio of 0.88. The stock’s fifty day moving average price is $115.29 and its 200 day moving average price is $124.48. The firm has a market capitalization of $29.15 billion, a PE ratio of 26.86, a PEG ratio of 2.53 and a beta of 1.26.

AMETEK (NYSE:AMEGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The technology company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.09. AMETEK had a return on equity of 18.20% and a net margin of 18.49%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the business posted $1.15 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, research analysts anticipate that AMETEK will post 5.5 EPS for the current fiscal year.

AMETEK Dividend Announcement

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

AMETEK declared that its Board of Directors has initiated a stock buyback plan on Friday, May 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On AMETEK

Large investors have recently made changes to their positions in the business. Covestor Ltd grew its position in AMETEK by 84.3% during the 1st quarter. Covestor Ltd now owns 212 shares of the technology company’s stock worth $28,000 after purchasing an additional 97 shares during the period. Zions Bancorporation N.A. lifted its stake in AMETEK by 726.5% in the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the technology company’s stock valued at $37,000 after buying an additional 247 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in 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 acquiring an additional 105 shares during the last quarter. Fund Management at Engine No. 1 LLC acquired a new stake in AMETEK in the 1st quarter valued at about $261,000. Finally, Delphia USA Inc. acquired a new stake in AMETEK in the 1st quarter valued at about $266,000. 86.72% of the stock is owned by institutional investors and hedge funds.

About AMETEK

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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.

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Earnings History and Estimates for AMETEK (NYSE:AME)

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