Atmus Filtration Technologies (NYSE:ATMU) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Atmus Filtration Technologies (NYSE:ATMU) posted its quarterly earnings results on Friday. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01, Briefing.com reports. Atmus Filtration Technologies had a return on equity of 135.12% and a net margin of 10.52%. The business had revenue of $426.60 million for the quarter, compared to analysts’ expectations of $416.18 million. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Atmus Filtration Technologies updated its FY24 guidance to $2.10-2.35 EPS and its FY 2024 guidance to 2.100-2.350 EPS.

Atmus Filtration Technologies Stock Performance

NYSE ATMU opened at $28.44 on Monday. The firm’s 50 day simple moving average is $29.04 and its 200 day simple moving average is $24.50. The firm has a market capitalization of $2.37 billion and a price-to-earnings ratio of 14.51. The company has a current ratio of 1.85, a quick ratio of 1.18 and a debt-to-equity ratio of 7.34. Atmus Filtration Technologies has a 1 year low of $18.21 and a 1 year high of $33.70.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ATMU shares. Northland Securities raised shares of Atmus Filtration Technologies from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a report on Wednesday, March 20th. Robert W. Baird increased their target price on Atmus Filtration Technologies from $29.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. boosted their price target on Atmus Filtration Technologies from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group increased their price objective on Atmus Filtration Technologies from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $32.67.

About Atmus Filtration Technologies

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.