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 EPS guidance of 2.150-2.400 for the period, compared to the consensus EPS estimate of 2.160. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. Atmus Filtration Technologies also updated its FY24 guidance to $2.15-2.40 EPS.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ATMU. JPMorgan Chase & Co. lifted their price objective on shares of Atmus Filtration Technologies from $36.00 to $38.00 and gave the company an overweight rating in a report on Monday, April 15th. The Goldman Sachs Group lifted their price objective on shares of Atmus Filtration Technologies from $30.00 to $34.00 and gave the company a buy rating in a report on Tuesday, April 16th. Wells Fargo & Company decreased their price objective on shares of Atmus Filtration Technologies from $37.00 to $36.00 and set an overweight rating for the company in a report on Monday, May 6th. Finally, Robert W. Baird decreased their price objective on shares of Atmus Filtration Technologies from $37.00 to $36.00 and set an outperform rating for the company in a report on Friday, July 19th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of $35.60.

Atmus Filtration Technologies Stock Up 3.1 %

Shares of NYSE ATMU traded up $0.93 during trading hours on Friday, hitting $30.91. 2,804,018 shares of the stock were exchanged, compared to its average volume of 1,169,488. The company has a quick ratio of 1.27, a current ratio of 2.00 and a debt-to-equity ratio of 4.83. The company has a market cap of $2.58 billion, a PE ratio of 15.76, a PEG ratio of 3.67 and a beta of 1.74. The firm has a fifty day moving average price of $29.39 and a 200-day moving average price of $27.94. Atmus Filtration Technologies has a 12 month low of $18.21 and a 12 month high of $33.70.

Atmus Filtration Technologies (NYSE:ATMU) last released its earnings results on Friday, August 2nd. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.13. The company had revenue of $432.60 million for the quarter, compared to the consensus estimate of $418.33 million. Atmus Filtration Technologies had a net margin of 10.03% and a return on equity of 314.52%. Atmus Filtration Technologies’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 EPS. On average, sell-side analysts expect that Atmus Filtration Technologies will post 2.26 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 1st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Thursday, August 1st. Atmus Filtration Technologies’s dividend payout ratio is currently 10.20%.

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.