Watch List Stock News: AMETEK, Inc. (NYSE: AME)

On 21 Oct 2019, AMETEK, Inc. (NYSE: AME) changed -0.63% to recent value of $97.87. The stock transacted 1342857 shares during most recent day however it has an average volume of 1167.06K shares. It spotted trading -1.37% off 52-week high price. On the other end, the stock has been noted 55.00% away from the low price over the last 52-weeks.

AMETEK, Inc. (AME) recently reported its financial results for the third quarter ended September 30, 2019.

AMETEK’s third quarter 2019 sales were $1.28B, up 7% contrast to the third quarter of 2018. Operating income increased 13% to a record $301.1M and operating margins were 23.6% in the quarter, a raise of 140 basis points over the previous year.

On a GAAP basis, third quarter earnings were $0.96 per diluted share. Adjusted earnings, which adds back non-cash, after-tax, acquisition-related intangible amortization, were $1.06 per diluted share, a 16% increase over the prior-year’s comparable quarter. A reconciliation of stated GAAP earnings to adjusted earnings is included in the financial tables accompanying this release and on the AMETEK website.

“AMETEK generated excellent results in the third quarter,” stated David A. Zapico, AMETEK Chairman and Chief Executive Officer. “We delivered a 16% year-over-year increase in adjusted earnings on solid organic sales growth, contributions from recent acquisitions and exceptional operating performance.”

“Cash flow was again excellent, with record operating cash flow of $330M in the quarter, a 33% increase over the same period last year. We continue to utilize our cash flow to support our planned acquisition strategy, with nearly $1.1B deployed thus far in 2019 on the acquisitions of Gatan and Pacific Design Technologies.”

Electronic Instruments Group (EIG)
Sales for EIG in the third quarter were $815.6M, up 10% contrast to the third quarter of 2018. EIG operating income for the quarter increased 15% over the prior-year period to a record $219.5M. Operating income margins were 26.9%, up 130 basis points over the previous year.

“EIG delivered strong results in the third quarter with impressive sales growth and outstanding operating performance,” noted Mr. Zapico. “Sales grew 10% on solid organic sales growth and contributions from the recent acquisitions of Forza, Telular and Spectro Scientific. EIG also continues to deliver impressive operating margin expansion through its Operational Excellence initiatives.”

AME has a gross margin of 34.70% and an operating margin of 22.70% while its profit margin remained 16.60% for the last 12 months. Its earnings per share (EPS) expected to touch remained 29.40% for this year while earning per share for the next 5-years is expected to reach at 8.35%.  The company has 228.04M of outstanding shares and 227.55M shares were floated in the market. According to the most recent quarter its current ratio was 2 that represents company’s ability to meet its current financial obligations. The price moved ahead of 3.12% from the mean of 20 days, 7.07% from mean of 50 days SMA and performed 13.10% from mean of 200 days price. Company’s performance for the week was 0.90%, 9.97% for month and YTD performance remained 44.56%.

 

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