Applied Materials (NASDAQ:AMAT) issued its quarterly earnings results on Thursday. The manufacturing equipment provider reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04, RTT News reports. Applied Materials had a net margin of 19.40% and a return on equity of 39.83%. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the prior year, the company earned $1.20 EPS. Applied Materials’s revenue was down 14.4% on a year-over-year basis. Applied Materials updated its Q4 2019 guidance to $0.72-0.80 EPS and its Q4 guidance to $0.72-0.80 EPS.
Shares of AMAT opened at $46.63 on Friday. The company has a market capitalization of $44.15 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 2.39 and a beta of 1.68. Applied Materials has a fifty-two week low of $28.79 and a fifty-two week high of $52.42. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.79 and a quick ratio of 1.77. The business’s 50-day moving average is $47.10 and its 200-day moving average is $42.51.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.80%. Applied Materials’s dividend payout ratio is 18.88%.
A number of equities research analysts have weighed in on the stock. B. Riley raised shares of Applied Materials from a “neutral” rating to a “buy” rating and upped their price target for the company from $46.00 to $54.00 in a report on Friday, May 17th. Citigroup upped their price target on shares of Applied Materials from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 17th. Royal Bank of Canada reissued a “buy” rating and issued a $54.00 price target on shares of Applied Materials in a report on Wednesday. Cowen reissued an “outperform” rating and issued a $55.00 price target (up from $53.00) on shares of Applied Materials in a report on Friday. Finally, Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Tuesday, June 4th. Eleven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $50.90.
Applied Materials Company Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.
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