Atmus Filtration Technologies (NYSE:ATMU) Updates 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.

Analyst Ratings Changes

Several equities analysts recently commented on ATMU shares. Wells Fargo & Company upped 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. Northland Securities upped their price target on Atmus Filtration Technologies from $38.00 to $49.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price objective on Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Robert W. Baird upped 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 research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $42.80.

Atmus Filtration Technologies Price Performance

Atmus Filtration Technologies stock opened at $44.27 on Friday. The firm has a market capitalization of $3.69 billion, a P/E ratio of 20.59, a PEG ratio of 4.74 and a beta of 1.68. Atmus Filtration Technologies has a one year low of $18.73 and a one year high of $44.66. The company has a debt-to-equity ratio of 3.28, a current ratio of 2.07 and a quick ratio of 1.30. The business has a fifty day moving average price of $37.72 and a 200-day moving average price of $32.98.

Atmus Filtration Technologies (NYSE:ATMU) last issued its earnings results on Friday, November 8th. The company reported $0.61 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 business had revenue of $404.00 million during the quarter, compared to the consensus estimate of $403.40 million. During the same quarter last year, the company earned $0.52 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts forecast that Atmus Filtration Technologies will post 2.34 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

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

Insider Buying and Selling

In other news, Director Gretchen R. Haggerty purchased 5,849 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $34.20 per share, with a total value of $200,035.80. Following the acquisition, the director now directly owns 19,882 shares in the company, valued at approximately $679,964.40. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.43% of the stock is currently owned by insiders.

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.