Atmus Filtration Technologies (NYSE:ATMU) Updates FY24 Earnings Guidance

Atmus Filtration Technologies (NYSE:ATMU) updated its FY24 earnings guidance on Friday. The company provided EPS guidance of $2.35-2.50 for the period, compared to the consensus EPS estimate of $2.34. The company issued revenue guidance of $1.65-1.675 billion, compared to the consensus revenue estimate of $1.66 billion. Atmus Filtration Technologies also updated its FY 2024 guidance to 2.350-2.500 EPS.

Atmus Filtration Technologies Price Performance

ATMU stock opened at $44.27 on Monday. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.30 and a current ratio of 2.07. The business has a 50-day simple moving average of $37.72 and a two-hundred day simple moving average of $32.98. The company has a market capitalization of $3.69 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 4.74 and a beta of 1.68. Atmus Filtration Technologies has a 52-week low of $18.73 and a 52-week high of $44.66.

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

Atmus Filtration Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st will be issued a $0.05 dividend. The ex-dividend date 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 is currently 9.30%.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Gretchen R. Haggerty acquired 5,849 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $34.20 per share, for a total transaction of $200,035.80. Following the purchase, the director now owns 19,882 shares of the company’s stock, valued at approximately $679,964.40. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.