In its upcoming report, Ametek (AME) is predicted by Wall Street analysts to post quarterly earnings of $1.84 per share, reflecting an increase of 9.5% compared to the same period last year. Revenues are forecasted to be $1.81 billion, representing a year-over-year increase of 4.7%.
The consensus EPS estimate for the quarter has been revised 0.7% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
In light of this perspective, let's dive into the average estimates of certain Ametek metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus among analysts is that 'Net Sales- Electronic Instruments' will reach $1.24 billion.
The consensus estimate for 'Net Sales- Electro mechanical' stands at $576.16 million. The estimate points to a change of +16.5% from the year-ago quarter.
Analysts' assessment points toward 'Operating Income- Electronic Instruments' reaching $376.45 million. Compared to the current estimate, the company reported $358.99 million in the same quarter of the previous year.
The average prediction of analysts places 'Operating Income- Electromechanical' at $126.01 million. The estimate is in contrast to the year-ago figure of $112.32 million.
View all Key Company Metrics for Ametek here>>>
Shares of Ametek have demonstrated returns of +2.8% over the past month compared to the Zacks S&P 500 composite's +2.7% change. With a Zacks Rank #2 (Buy), AME is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.
AMETEK, Inc. (AME) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
