Q1 2024 Earnings Forecast for AMETEK, Inc. Issued By DA Davidson (NYSE:AME)

AMETEK, Inc. (NYSE:AMEFree Report) – Analysts at DA Davidson issued their Q1 2024 earnings estimates for AMETEK in a research report issued to clients and investors on Wednesday, February 7th. DA Davidson analyst M. Summerville expects that the technology company will earn $1.60 per share for the quarter. The consensus estimate for AMETEK’s current full-year earnings is $6.33 per share. DA Davidson also issued estimates for AMETEK’s FY2025 earnings at $7.40 EPS.

AMETEK (NYSE:AMEGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. AMETEK had a net margin of 19.68% and a return on equity of 18.19%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 earnings per share.

AME has been the topic of several other reports. TD Cowen lowered AMETEK from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $165.00 to $160.00 in a research note on Monday, November 27th. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Royal Bank of Canada dropped their price objective on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, KeyCorp upped their target price on shares of AMETEK from $176.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $174.25.

View Our Latest Stock Analysis on AMETEK

AMETEK Stock Up 0.4 %

NYSE AME opened at $166.72 on Thursday. The firm has a 50-day simple moving average of $162.49 and a 200 day simple moving average of $155.91. The stock has a market cap of $38.48 billion, a PE ratio of 30.20, a PEG ratio of 2.58 and a beta of 1.21. AMETEK has a twelve month low of $131.52 and a twelve month high of $168.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.86.

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 810 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $155.09, for a total transaction of $125,622.90. Following the sale, the director now owns 29,454 shares of the company’s stock, valued at approximately $4,568,020.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Several large investors have recently made changes to their positions in the stock. McGlone Suttner Wealth Management Inc. bought a new position in shares of AMETEK during the fourth quarter worth about $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of AMETEK in the fourth quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in AMETEK during the fourth quarter worth $26,000. Bruce G. Allen Investments LLC bought a new position in AMETEK in the fourth quarter valued at $28,000. Finally, Covestor Ltd lifted 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 buying an additional 97 shares in the last quarter. Institutional investors own 85.70% of the company’s stock.

AMETEK Company Profile

(Get Free Report)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. 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.Its EMG segment offers engineered electrical connectors and electronics packaging to protect sensitive devices and mission-critical electronics; precision motion control products for data storage, medical devices, business equipment, automation, and other applications; high-purity powdered metals, strips and foils, specialty clad metals, and metal matrix composites; motor-blower systems and heat exchangers for use in thermal management, military, commercial aircraft, and military ground vehicles; and motors for use in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps, and industrial blowers.

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Earnings History and Estimates for AMETEK (NYSE:AME)

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