Q1 2017 EPS Estimates for Applied Materials Inc. (AMAT) Lifted by Analyst
Applied Materials Inc. (NASDAQ:AMAT) – Stock analysts at B. Riley raised their Q1 2017 earnings estimates for shares of Applied Materials in a report issued on Friday. B. Riley analyst C. Ellis now anticipates that the brokerage will post earnings of $0.66 per share for the quarter, up from their previous forecast of $0.55. B. Riley currently has a “Buy” rating and a $38.00 target price on the stock. B. Riley also issued estimates for Applied Materials’ Q2 2017 earnings at $0.64 EPS, Q3 2017 earnings at $0.53 EPS, Q4 2017 earnings at $0.50 EPS, FY2017 earnings at $2.32 EPS, Q1 2018 earnings at $0.51 EPS, Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $0.65 EPS, Q4 2018 earnings at $0.70 EPS and FY2018 earnings at $2.44 EPS.
A number of other analysts have also recently commented on the company. Nomura reiterated a “buy” rating and set a $31.00 target price on shares of Applied Materials in a research report on Thursday, September 22nd. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating and set a $33.00 target price on shares of Applied Materials in a research report on Friday, September 23rd. Royal Bank Of Canada lifted their target price on Applied Materials from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, August 19th. RBC Capital Markets reiterated a “sector perform” rating on shares of Applied Materials in a research report on Friday, September 23rd. Finally, Zacks Investment Research upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Wednesday, November 16th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $31.95.
Applied Materials (NASDAQ:AMAT) opened at 31.67 on Monday. The stock has a market cap of $34.24 billion, a P/E ratio of 20.56 and a beta of 1.86. Applied Materials has a 12 month low of $15.44 and a 12 month high of $31.80. The firm’s 50-day moving average price is $29.12 and its 200-day moving average price is $26.85.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 17th. The manufacturing equipment provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.31 billion. Applied Materials had a return on equity of 28.09% and a net margin of 15.90%. Applied Materials’s revenue for the quarter was up 39.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 earnings per share.
Hedge funds have recently made changes to their positions in the stock. First Quadrant L P CA bought a new stake in shares of Applied Materials during the third quarter valued at about $103,000. MCF Advisors LLC increased its stake in shares of Applied Materials by 0.3% in the third quarter. MCF Advisors LLC now owns 3,643 shares of the manufacturing equipment provider’s stock valued at $110,000 after buying an additional 12 shares in the last quarter. Thompson Davis & CO. Inc. increased its stake in shares of Applied Materials by 133.3% in the second quarter. Thompson Davis & CO. Inc. now owns 4,232 shares of the manufacturing equipment provider’s stock valued at $101,000 after buying an additional 2,418 shares in the last quarter. Jacobus Wealth Management Inc. bought a new stake in shares of Applied Materials during the third quarter valued at about $128,000. Finally, Orinda Asset Management LLC bought a new stake in shares of Applied Materials during the third quarter valued at about $128,000. Hedge funds and other institutional investors own 81.44% of the company’s stock.
In related news, VP Omkaram Nalamasu sold 26,035 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $30.15, for a total value of $784,955.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary E. Dickerson sold 229,935 shares of the stock in a transaction on Friday, October 7th. The shares were sold at an average price of $29.71, for a total value of $6,831,368.85. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $0.40 annualized dividend and a yield of 1.26%. Applied Materials’s dividend payout ratio is currently 25.64%.
Applied Materials Company Profile
Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.
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