Atmus Filtration Technologies (NYSE:ATMU) Issues FY 2024 Earnings Guidance

Atmus Filtration Technologies (NYSE:ATMU) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.350-2.500 for the period, compared to the consensus earnings per share estimate of 2.200. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. Atmus Filtration Technologies also updated its FY24 guidance to $2.35-2.50 EPS.

Atmus Filtration Technologies Stock Up 6.8 %

Shares of NYSE ATMU opened at $44.27 on Friday. The company has a quick ratio of 1.30, a current ratio of 2.07 and a debt-to-equity ratio of 3.28. The business’s 50 day moving average is $37.72 and its two-hundred day moving average is $32.98. Atmus Filtration Technologies has a 52-week low of $18.73 and a 52-week high of $44.66. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 4.74 and a beta of 1.68.

Atmus Filtration Technologies (NYSE:ATMU) last posted its earnings results on Friday, November 8th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.09. Atmus Filtration Technologies had a return on equity of 187.12% and a net margin of 10.52%. The firm had revenue of $404.00 million for the quarter, compared to analyst estimates of $403.40 million. During the same quarter in the prior year, the company earned $0.52 EPS. Atmus Filtration Technologies’s revenue was up 2.0% on a year-over-year basis. Research analysts predict that Atmus Filtration Technologies will post 2.34 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Thursday, October 31st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Thursday, October 31st. Atmus Filtration Technologies’s dividend payout ratio (DPR) is currently 9.30%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ATMU. Northland Securities increased their target price on shares of Atmus Filtration Technologies from $38.00 to $49.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Wells Fargo & Company increased their price objective on Atmus Filtration Technologies from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Robert W. Baird boosted their target price on Atmus Filtration Technologies from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price target on Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $42.80.

Insider Transactions at Atmus Filtration Technologies

In other Atmus Filtration Technologies news, Director Gretchen R. Haggerty bought 5,849 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of $34.20 per share, with a total value of $200,035.80. Following the completion of the acquisition, the director now directly owns 19,882 shares of the company’s stock, valued at $679,964.40. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.43% of the company’s stock.

Atmus Filtration Technologies Company Profile

Atmus Filtration Technologies Inc designs, manufactures, and sells filtration products under the Fleetguard brand name in North America, Europe, South America, Asia, Australia, Africa, and internationally. The company offers fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters, coolants, and fuel additives, as well as other chemicals; and fuel water separators and other filtration systems to original equipment manufacturers, dealers/distributors, and end-users.