Atmus Filtration Technologies (NYSE:ATMU) Releases 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 (EPS) guidance of 2.350-2.500 for the period, compared to the consensus 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 Price Performance

Shares of Atmus Filtration Technologies stock opened at $44.27 on Monday. The stock has a 50 day moving average price of $37.72 and a 200-day moving average price of $32.98. Atmus Filtration Technologies has a one year low of $18.73 and a one year high of $44.66. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 4.74 and a beta of 1.68. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.30 and a current ratio of 2.07.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09. The business had revenue of $404.00 million for the quarter, compared to analysts’ expectations of $403.40 million. Atmus Filtration Technologies had a net margin of 10.52% and a return on equity of 187.12%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 earnings per share. Equities analysts expect that Atmus Filtration Technologies will post 2.34 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.20 annualized dividend and a dividend yield of 0.45%. Atmus Filtration Technologies’s dividend payout ratio (DPR) is presently 9.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ATMU shares. Northland Securities raised their price target on Atmus Filtration Technologies from $38.00 to $49.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lifted their target price on Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Wells Fargo & Company upped their price target on shares of Atmus Filtration Technologies from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Robert W. Baird lifted their price objective on shares of Atmus Filtration Technologies from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Atmus Filtration Technologies has an average 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 acquired 5,849 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $34.20 per share, with a total value of $200,035.80. Following the completion of the purchase, the director now directly owns 19,882 shares in the company, valued at $679,964.40. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.43% of the company’s stock.

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.