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Based in Berwyn, Pennsylvania, AMETEK, Inc. manufactures and sells electronic instruments and electromechanical devices. Valued at a market cap of $38.3 billion, the company has evolved from a provider of heavy machinery to a manufacturer of advanced analytical, test, and measurement instrumentation for the energy, aerospace, power, research, medical, and industrial markets.
Companies worth more than $10 billion are generally labeled as “large-cap” stocks, and AMETEK fits this criterion perfectly. The company has expanded through more than 90 acquisitions since 2000, operates in approximately 150 locations across 31 countries, and owns 175 market-leading brands.
Shares of AME are trading 11.2% below their 52-week high of $186.32, which they hit on Mar. 21. AME has declined 4.7% over the past three months, lagging behind the broader Dow Jones Industrials Average’s ($DOWI) 5.4% gain over the same time frame.
In the longer term, AME stock has marginally increased on a YTD basis, lagging behind DOWI’s 8.3% rise. Shares of AME have gained 9.1% over the past 52 weeks, underperforming DOWI’s nearly 17.8% returns over the same time frame.
To confirm its bearish trend, AME has been trading below its 200-day moving average since late August and has remained below its 50-day moving average since early September.
On Aug. 1, AME fell 8.3% following its Q2 earnings release as its revenues of $1.73 billion missed Wall Street estimates of $1.77 billion. The company’s reduced full-year earnings guidance to $6.70-$6.80 further dampened investor confidence. However, AME recorded a 6% year-over-year adjusted earnings growth to $1.66 per share, surpassing the consensus estimates of $1.64 per share.
AME’s underperformance becomes more evident compared to its rival, Dover Corporation , which gained 20% on a YTD basis and 31% over the past 52 weeks.
Despite AME’s underperformance, analysts remain moderately optimistic about its prospects. The stock has a consensus rating of “Moderate Buy” from 13 analysts in coverage, and the mean price target of $185.83 suggests a 12.3% premium to its current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
Reporter Name | Cerepak Brad M |
Relationship | Senior VP & CFO |
Type | Sell |
Amount | $2,593,150 |
SEC Filing | Form 4 |
Brad M Cerepak, Senior VP & CFO of Dover Corp, sold 14,818 shares of Common Stock on September 6, 2024, at a weighted average price of $175. The total sale amounted to $2,593,150. Following the transaction, Cerepak directly owns 12,324 shares and indirectly owns 3,050 shares through a 401K Plan.
SEC Filing: DOVER Corp [ DOV ] - Form 4 - Sep. 10, 2024
Terex Corporation TEX has announced that the mandatory 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 related to its pending acquisition of Environmental Solutions Group (“ESG”) is over.
This marks an important step in the acquisition process, which will add a market leader in waste and recycling to Terex's portfolio. It will also enhance its financial profile, including revenues, free cash flow, EBITDA margin and earnings per share.
Details of the Terex-Dover Deal
On July 22, 2024, TEX and Dover Corporation DOV announced that they had inked a deal, per which Terex would acquire Dover’s ESG Group in a $2 billion all-cash transaction. Adjusted for the present value of expected tax benefits of approximately $275 million, the purchase price stands at $1.725 billion.
Dover's ESG has several well-known product brands, including Heil, Marathon, Curotto-Can and Bayne Thinline. It has digital solutions offerings such as 3rd Eye and Soft-Pak.
ESG has a solid track record of consistent growth and witnessed more than 7% organic revenue CAGR over the last 10 years.
Strategic Benefits of the Deal to Terex
Solid Trends in Waste and Recycling: Terex expects the ESG deal to close later this year, subject to the satisfaction of customary non-regulatory closing conditions. It will form a new Environmental Solutions segment that includes ESG and its existing Utilities business. The addition of ESG will strengthen Terex's portfolio and cater to the growing waste, recycling and utility end markets that are expected to benefit from electrification, circularity and energy transition trends.
Enhanced Product Portfolio, Market Share & Opportunities: ESG's turnkey products and services across equipment, digital and aftermarket offerings are complementary to Terex's product portfolio. Following the acquisition, its North American exposure will reach 65% and its global market opportunity will expand to $40 billion.
Solid Financial Benefits: ESG's EBITDA margin, including run-rate synergies, is expected to boost Terex’s margins by 130 basis points. It will have approximately $1 billion in pro forma EBITDA.
The deal is expected to boost Terex’s earnings by a double-digit percentage in 2025, with further gains expected thereafter.
Around $25 million of identified synergies are expected by the end of 2026. This will stem from procurement, supply-chain efficiencies and commercial initiatives.
Also, ESG's efficient operating model, combined with low net working capital, will improve Terex’s free cash flows.
Price Performance
Terex's shares have lost 14.4% over the past year against the industry’s 15.5% growth.
TEX’s Zacks Rank & Stocks to Consider
Terex currently carries a Zacks Rank #3 (Hold).
Some better-ranked companies from the Industrial Products sector are Crane Company CR and Flowserve Corporation FLS, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Crane’s 2024 earnings is pegged at $5.07 per share. The consensus estimate for earnings has moved 6% north in the past 60 days. The company has a trailing four-quarter average earnings surprise of 11.2%. CR’s shares gained 75.2% in a year.
Flowserve has an average trailing four-quarter earnings surprise of 18.2%. The Zacks Consensus Estimate for FLS’ 2024 earnings is pinned at $2.76 per share, which indicates year-over-year growth of 31.6%. The consensus estimate for earnings has moved 4% north in the past 60 days. The company’s shares gained 27.5% in a year.
Zacks Investment Research
SINGAPORE, Sept. 04, 2024 (GLOBE NEWSWIRE) -- We are thrilled to announce that ZYGO (Zygo the Frog) will soon be listed on XT Exchange. The ZYGO/USDT trading pair will be available in the Innovation Zone. Please take note of the following go-live schedule:
About ZYGO (Zygo the Frog)
Zygo the Frog is more than just a token—it’s the cornerstone of the vibrant Zygos ecosystem, which includes an animated series and an engaging online video game. ZYGO was designed to create a seamless connection between entertainment and decentralized finance, bringing a unique fusion of fun and financial innovation to its users. As the native token of the Zygos ecosystem, ZYGO empowers users to participate in a dynamic community where entertainment meets blockchain technology.
The listing of ZYGO on XT Exchange marks a pivotal moment for the Zygos ecosystem. This partnership will expose ZYGO to a broader audience of traders and blockchain enthusiasts, enhancing its liquidity and expanding its reach within the crypto space. By joining XT Exchange, ZYGO is set to play a key role in the evolving landscape of digital finance and entertainment, offering users worldwide an exciting and innovative experience.
Albin Warin, CEO of XT Exchange, expressed his enthusiasm for the listing:
“We are excited to welcome ZYGO to our platform. The integration of entertainment and finance within the Zygos ecosystem perfectly aligns with our vision of supporting projects that bring both innovation and value to our users. We believe this listing will not only enrich our offerings but also introduce a new and engaging experience for our community.”
Website: https://www.zygothefrog.com/
Blockchain Browser: https://etherscan.io/token/0xEe2B9b7e168b5b2D40c507b891c7CfB13A6AaF2b
Whitepaper Link: http://zygo.website/__static/bbc147b5ed031a93ec330a2629ba37b9/zygo-the-mischievous-whitepaper(3).pdf
About XT
Founded in 2018, XT serves more than 7.8M registered users, over 1M monthly active users, 40+ million users in the ecosystem, and more than 800 tokens with 1000+ trading pairs. XT crypto exchange offers a rich variety of trading categories to provide a secure, trusted, and intuitive trading experience for its large user base. This includes crypto futures trading (USDT-M Futures and coin-M futures perpetual contracts) and copy trading that allows users to replicate top traders in real time with just one click. Additionally, the futures grid allows users to automate the buying and selling of futures contracts for profits.
Website: xt.comX: twitter.com/XTexchangeTelegram: t.me/XTsupport_EN
XT ExchangeBella WeiListing@xt.com
ZYGO (Zygo the Frog)contact@zygothefrog.com
Disclaimer: This content is provided by XT exchange. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
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