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AMETEK, Inc. to Post Q4 2023 Earnings of $1.64 Per Share, KeyCorp Forecasts (NYSE:AME)

Jan 22, 2024

AMETEK, Inc. (NYSE:AME - Free Report) - Stock analysts at KeyCorp lifted their Q4 2023 earnings per share (EPS) estimates for AMETEK in a report issued on Tuesday, August 1st. KeyCorp analyst S. Barger now forecasts that the technology company will post earnings of $1.64 per share for the quarter, up from their prior estimate of $1.61. KeyCorp currently has a "Overweight" rating and a $176.00 target price on the stock. The consensus estimate for AMETEK's current full-year earnings is $6.23 per share.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The technology company reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.52 by $0.05. The company had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.64 billion. AMETEK had a return on equity of 18.70% and a net margin of 19.23%. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 earnings per share.

Several other equities research analysts have also recently commented on the company. Mizuho boosted their target price on AMETEK from $161.00 to $166.00 and gave the stock a "buy" rating in a report on Wednesday. Morgan Stanley boosted their target price on AMETEK from $162.00 to $174.00 and gave the stock an "overweight" rating in a report on Wednesday. DA Davidson boosted their target price on AMETEK from $177.00 to $180.00 in a report on Thursday, June 8th. Royal Bank of Canada lifted their price target on shares of AMETEK from $174.00 to $182.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, began coverage on shares of AMETEK in a research report on Thursday, May 18th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $175.29.

Check Out Our Latest Report on AMETEK

NYSE:AME traded down $0.51 during midday trading on Friday, hitting $157.34. 61,607 shares of the stock were exchanged, compared to its average volume of 992,802. AMETEK has a one year low of $110.87 and a one year high of $164.75. The company has a market capitalization of $36.30 billion, a price-to-earnings ratio of 29.56, a P/E/G ratio of 2.85 and a beta of 1.21. The business has a 50-day moving average price of $155.68 and a two-hundred day moving average price of $146.62. The company has a current ratio of 1.84, a quick ratio of 1.07 and a debt-to-equity ratio of 0.28.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Westpac Banking Corp grew its position in AMETEK by 3.5% during the 4th quarter. Westpac Banking Corp now owns 21,423 shares of the technology company's stock worth $2,993,000 after purchasing an additional 734 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of AMETEK by 16,498.9% during the 4th quarter. Pacer Advisors Inc. now owns 77,683 shares of the technology company's stock valued at $10,854,000 after acquiring an additional 77,215 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in shares of AMETEK during the 4th quarter valued at $29,000. Envestnet Asset Management Inc. grew its holdings in shares of AMETEK by 8.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 192,875 shares of the technology company's stock valued at $26,948,000 after acquiring an additional 15,123 shares in the last quarter. Finally, SVB Wealth LLC grew its holdings in shares of AMETEK by 42.5% during the 4th quarter. SVB Wealth LLC now owns 5,047 shares of the technology company's stock valued at $705,000 after acquiring an additional 1,505 shares in the last quarter. 85.13% of the stock is currently owned by hedge funds and other institutional investors.

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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