DA Davidson Weighs in on AMETEK, Inc.’s FY2018 Earnings (AME)

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AMETEK, Inc. (NYSE:AME) – DA Davidson upped their FY2018 earnings estimates for AMETEK in a note issued to investors on Friday, November 2nd. DA Davidson analyst M. Summerville now forecasts that the technology company will earn $3.26 per share for the year, up from their prior estimate of $3.20. DA Davidson also issued estimates for AMETEK’s Q3 2019 earnings at $0.89 EPS, FY2019 earnings at $3.55 EPS, Q1 2020 earnings at $0.91 EPS, Q2 2020 earnings at $0.98 EPS, Q3 2020 earnings at $0.97 EPS and FY2020 earnings at $3.85 EPS.

AMETEK (NYSE:AME) last released its earnings results on Thursday, November 1st. The technology company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. AMETEK had a net margin of 17.06% and a return on equity of 17.08%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the firm earned $0.66 EPS. The company’s revenue was up 10.0% compared to the same quarter last year.

AME has been the subject of a number of other reports. Cowen reissued a “buy” rating and set a $85.00 target price on shares of AMETEK in a research report on Sunday, August 12th. ValuEngine raised shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. BMO Capital Markets increased their target price on shares of AMETEK from $92.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, August 1st. Oppenheimer upped their price target on shares of AMETEK from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, August 1st. Finally, Bank of America upped their price target on shares of AMETEK from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. AMETEK currently has a consensus rating of “Buy” and a consensus target price of $87.00.

AMETEK stock opened at $74.64 on Monday. AMETEK has a twelve month low of $64.91 and a twelve month high of $81.92. The company has a market cap of $16.84 billion, a PE ratio of 28.60, a P/E/G ratio of 2.03 and a beta of 1.30. The company has a quick ratio of 1.42, a current ratio of 2.06 and a debt-to-equity ratio of 0.41.

Several hedge funds have recently made changes to their positions in AME. Fort L.P. purchased a new stake in AMETEK in the 2nd quarter worth approximately $119,000. Signet Financial Management LLC purchased a new stake in AMETEK in the 2nd quarter worth approximately $124,000. ELM Advisors LLC purchased a new stake in AMETEK in the 3rd quarter worth approximately $142,000. Advisors Asset Management Inc. purchased a new stake in AMETEK in the 2nd quarter worth approximately $168,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in AMETEK in the 2nd quarter worth approximately $195,000. Institutional investors own 85.09% of the company’s stock.

In related news, insider John Wesley Hardin sold 29,955 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $81.55, for a total transaction of $2,442,830.25. Following the sale, the insider now directly owns 70,016 shares in the company, valued at approximately $5,709,804.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $77.26, for a total transaction of $231,780.00. Following the sale, the director now owns 104,810 shares in the company, valued at $8,097,620.60. The disclosure for this sale can be found here. Insiders have sold a total of 56,925 shares of company stock worth $4,580,360 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.

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Earnings History and Estimates for AMETEK (NYSE:AME)

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