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Amtek (AME) Gains But Lags Market: What You Should Know
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Amtek (AME - Free Report) closed the most recent trading day at $84.28, moving +0.32% from the previous trading session. This move lagged the S&P 500's daily gain of 0.46%. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.59%.
Heading into today, shares of the maker of electronic instruments and electromechanical devices had gained 6.44% over the past month, outpacing the Computer and Technology sector's gain of 5.33% and the S&P 500's gain of 3.24% in that time.
Investors will be hoping for strength from AME as it approaches its next earnings release. In that report, analysts expect AME to post earnings of $0.97 per share. This would mark year-over-year growth of 24.36%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.27 billion, up 8.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.04 per share and revenue of $5.24 billion, which would represent changes of +22.8% and +8.07%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for AME. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. AME is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note AME's current valuation metrics, including its Forward P/E ratio of 20.81. For comparison, its industry has an average Forward P/E of 24.83, which means AME is trading at a discount to the group.
It is also worth noting that AME currently has a PEG ratio of 2.17. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Electronics - Testing Equipment was holding an average PEG ratio of 2.13 at yesterday's closing price.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AME in the coming trading sessions, be sure to utilize Zacks.com.
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Amtek (AME) Gains But Lags Market: What You Should Know
Amtek (AME - Free Report) closed the most recent trading day at $84.28, moving +0.32% from the previous trading session. This move lagged the S&P 500's daily gain of 0.46%. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.59%.
Heading into today, shares of the maker of electronic instruments and electromechanical devices had gained 6.44% over the past month, outpacing the Computer and Technology sector's gain of 5.33% and the S&P 500's gain of 3.24% in that time.
Investors will be hoping for strength from AME as it approaches its next earnings release. In that report, analysts expect AME to post earnings of $0.97 per share. This would mark year-over-year growth of 24.36%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.27 billion, up 8.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.04 per share and revenue of $5.24 billion, which would represent changes of +22.8% and +8.07%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for AME. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. AME is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note AME's current valuation metrics, including its Forward P/E ratio of 20.81. For comparison, its industry has an average Forward P/E of 24.83, which means AME is trading at a discount to the group.
It is also worth noting that AME currently has a PEG ratio of 2.17. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Electronics - Testing Equipment was holding an average PEG ratio of 2.13 at yesterday's closing price.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AME in the coming trading sessions, be sure to utilize Zacks.com.