$4.00 Billion in Sales Expected for Applied Materials, Inc. (AMAT) This Quarter

Wall Street brokerages predict that Applied Materials, Inc. (NASDAQ:AMAT) will post $4.00 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Applied Materials’ earnings. The lowest sales estimate is $4.00 billion and the highest is $4.01 billion. Applied Materials posted sales of $3.97 billion in the same quarter last year, which would indicate a positive year over year growth rate of 0.8%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 15th.

According to Zacks, analysts expect that Applied Materials will report full-year sales of $17.24 billion for the current year, with estimates ranging from $17.24 billion to $17.25 billion. For the next year, analysts forecast that the company will post sales of $17.21 billion, with estimates ranging from $16.45 billion to $17.78 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Applied Materials.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.03. The company had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.42 billion. Applied Materials had a net margin of 19.87% and a return on equity of 58.23%. Applied Materials’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share.

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada downgraded shares of Applied Materials from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $67.73 to $55.00 in a research note on Wednesday, June 13th. They noted that the move was a valuation call. Morgan Stanley downgraded shares of Applied Materials from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $58.00 to $54.00 in a research note on Thursday, August 9th. BidaskClub downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. Cowen raised shares of Applied Materials from a “market perform” rating to an “outperform” rating and increased their target price for the company from $60.00 to $62.00 in a research note on Monday, August 6th. Finally, Stifel Nicolaus reduced their target price on shares of Applied Materials from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Applied Materials currently has an average rating of “Buy” and an average price target of $61.95.

Applied Materials stock opened at $36.59 on Tuesday. The firm has a market cap of $37.99 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 0.79 and a beta of 1.49. The company has a current ratio of 2.52, a quick ratio of 1.67 and a debt-to-equity ratio of 0.78. Applied Materials has a 52-week low of $36.31 and a 52-week high of $62.40.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Friday, November 23rd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Wednesday, November 21st. Applied Materials’s dividend payout ratio is currently 24.62%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kaizen Advisory LLC grew its holdings in shares of Applied Materials by 147.4% in the second quarter. Kaizen Advisory LLC now owns 2,561 shares of the manufacturing equipment provider’s stock worth $118,000 after purchasing an additional 1,526 shares during the last quarter. Rational Advisors LLC grew its holdings in shares of Applied Materials by 5,102.0% in the second quarter. Rational Advisors LLC now owns 2,601 shares of the manufacturing equipment provider’s stock worth $120,000 after purchasing an additional 2,551 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Applied Materials by 127.1% in the second quarter. AdvisorNet Financial Inc now owns 3,054 shares of the manufacturing equipment provider’s stock worth $141,000 after purchasing an additional 1,709 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of Applied Materials by 24.3% in the second quarter. Whittier Trust Co. now owns 6,281 shares of the manufacturing equipment provider’s stock worth $142,000 after purchasing an additional 1,228 shares during the last quarter. Finally, ELM Advisors LLC bought a new position in shares of Applied Materials in the third quarter worth about $157,000. 77.21% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Company Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.

Featured Article: Asset Allocation

Get a free copy of the Zacks research report on Applied Materials (AMAT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply