AMTEK, Inc. (NYSE:AME) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.46-2.52 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.50. AMTEK also updated its Q3 guidance to $0.60-0.62 EPS.
Shares of AMTEK, Inc. (NYSE AME) traded down 0.26% during trading on Friday, reaching $62.58. 711,889 shares of the company were exchanged. AMTEK, Inc. has a one year low of $43.98 and a one year high of $64.97. The stock has a 50-day moving average price of $61.84 and a 200-day moving average price of $57.74. The stock has a market capitalization of $14.44 billion, a PE ratio of 27.46 and a beta of 1.34.
AMTEK (NYSE:AME) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. AMTEK’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. Analysts forecast that AMTEK, Inc. will post $2.52 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.09 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.58%. AMTEK’s payout ratio is 15.79%.
Several research analysts recently issued reports on AME shares. Zacks Investment Research upgraded shares of AMTEK from a hold rating to a buy rating and set a $72.00 price target for the company in a research note on Monday, August 7th. Cowen and Company restated an outperform rating and set a $66.00 price objective (up from $62.00) on shares of AMTEK in a research note on Friday, July 7th. Stifel Nicolaus restated a buy rating and set a $69.00 price objective (up from $66.00) on shares of AMTEK in a research note on Thursday, June 8th. BMO Capital Markets raised their price objective on shares of AMTEK from $67.00 to $69.00 and gave the company an outperform rating in a research note on Thursday, August 3rd. Finally, BidaskClub lowered shares of AMTEK from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. AMTEK has a consensus rating of Buy and an average target price of $65.09.
In related news, VP Thomas M. Montgomery sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $64.49, for a total value of $96,735.00. Following the transaction, the vice president now owns 21,747 shares of the company’s stock, valued at $1,402,464.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Timothy N. Jones sold 39,955 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $61.95, for a total transaction of $2,475,212.25. Following the completion of the transaction, the insider now directly owns 40,025 shares in the company, valued at approximately $2,479,548.75. The disclosure for this sale can be found here. In the last three months, insiders sold 55,370 shares of company stock worth $3,432,699. 2.10% of the stock is currently owned by insiders.
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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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