Applied Materials, Inc. (NASDAQ:AMAT) declared a quarterly dividend on Thursday, September 6th, RTT News reports. Investors of record on Friday, November 23rd will be paid a dividend of 0.20 per share by the manufacturing equipment provider on Thursday, December 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.99%.
Applied Materials has a payout ratio of 18.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Applied Materials to earn $4.37 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 18.3%.
Shares of NASDAQ AMAT traded down $2.23 during trading hours on Thursday, reaching $40.27. The stock had a trading volume of 22,584,800 shares, compared to its average volume of 13,769,945. The company has a current ratio of 2.52, a quick ratio of 1.67 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $42.29 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 0.75 and a beta of 1.53. Applied Materials has a twelve month low of $40.24 and a twelve month high of $62.40.
Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. The business had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.42 billion. Applied Materials had a return on equity of 58.23% and a net margin of 19.87%. Applied Materials’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. research analysts anticipate that Applied Materials will post 4.45 earnings per share for the current fiscal year.
A number of brokerages recently commented on AMAT. Morgan Stanley lowered Applied Materials from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $58.00 to $54.00 in a research note on Thursday, August 9th. B. Riley cut their target price on Applied Materials from $70.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, August 17th. Wells Fargo & Co cut their target price on Applied Materials from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, August 17th. Cowen began coverage on Applied Materials in a research note on Monday, May 14th. They issued a “market perform” rating and a $60.00 target price for the company. Finally, Citigroup cut their target price on Applied Materials from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Applied Materials presently has an average rating of “Buy” and an average target price of $61.84.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
Read More: Google Finance Portfolio Tips and Tricks
Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.