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What's in the Cards for Ametek (AME) this Earnings Season?
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Ametek Inc. (AME - Free Report) , one of the leading manufacturers of electronic instruments and electromechanical devices, is set to report third-quarter 2016 results on Nov 1 before the bell.
Last quarter, its earnings matched the Zacks Consensus Estimate. Let’s see how things are shaping up for this announcement.
Factors at Play
Last quarter, Ametek’s revenues were negatively impacted by reduced demand stemming from the weakness in oil and gas, metals and global industrial markets.
However, a strong portfolio of businesses and robust execution of its four core growth strategies of operational excellence, global market expansion, investments in product development and strategic acquisitions could drive growth.
For the third quarter, the company expects revenues to be down in mid-single digits from the year-ago quarter. Earnings are expected to be in a range of 54 cents to 55 cents per share.
Our proven model does not conclusively show that Ametek will beat estimates this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. That is not the case here as you will see below.
Zacks ESP: Ametek currently has an Earnings ESP of -1.82%. This is because the Most Accurate estimate stands at 54 cents, while the Zacks Consensus Estimate is pegged at 55 cents. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
Zacks Rank: Ametek currently carries a Zacks Rank #4 (Sell). We caution against stocks with a Zacks Rank #4 and 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Stocks to Consider
You may consider the following stocks, with a positive Earnings ESP and a favorable Zacks Rank:
Boyd Gaming Corporation (BYD - Free Report) , with an Earnings ESP of +16.67% and a Zacks Rank #2.
NVIDIA Corporation (NVDA - Free Report) , with an Earnings ESP of +8.93% and a Zacks Rank #3.
Confidential from Zacks
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What's in the Cards for Ametek (AME) this Earnings Season?
Ametek Inc. (AME - Free Report) , one of the leading manufacturers of electronic instruments and electromechanical devices, is set to report third-quarter 2016 results on Nov 1 before the bell.
Last quarter, its earnings matched the Zacks Consensus Estimate. Let’s see how things are shaping up for this announcement.
Factors at Play
Last quarter, Ametek’s revenues were negatively impacted by reduced demand stemming from the weakness in oil and gas, metals and global industrial markets.
However, a strong portfolio of businesses and robust execution of its four core growth strategies of operational excellence, global market expansion, investments in product development and strategic acquisitions could drive growth.
For the third quarter, the company expects revenues to be down in mid-single digits from the year-ago quarter. Earnings are expected to be in a range of 54 cents to 55 cents per share.
AMETEK INC Price and EPS Surprise
AMETEK INC Price and EPS Surprise | AMETEK INC Quote
Earnings Whispers
Our proven model does not conclusively show that Ametek will beat estimates this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. That is not the case here as you will see below.
Zacks ESP: Ametek currently has an Earnings ESP of -1.82%. This is because the Most Accurate estimate stands at 54 cents, while the Zacks Consensus Estimate is pegged at 55 cents. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
Zacks Rank: Ametek currently carries a Zacks Rank #4 (Sell). We caution against stocks with a Zacks Rank #4 and 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Stocks to Consider
You may consider the following stocks, with a positive Earnings ESP and a favorable Zacks Rank:
Veeco Instruments Inc. (VECO - Free Report) with an Earnings ESP of +17.86% and Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Boyd Gaming Corporation (BYD - Free Report) , with an Earnings ESP of +16.67% and a Zacks Rank #2.
NVIDIA Corporation (NVDA - Free Report) , with an Earnings ESP of +8.93% and a Zacks Rank #3.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>