Applied Materials (NASDAQ:AMAT) Posts Earnings Results, Beats Expectations By $0.12 EPS

Applied Materials (NASDAQ:AMATGet Free Report) announced its quarterly earnings results on Thursday. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12, Briefing.com reports. The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.54 billion. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $2.00 earnings per share. Applied Materials updated its Q3 guidance to $1.83-2.19 EPS and its Q3 2024 guidance to 1.830-2.190 EPS.

Applied Materials Stock Performance

NASDAQ AMAT opened at $212.08 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.71 and a quick ratio of 1.91. Applied Materials has a 1-year low of $120.18 and a 1-year high of $219.36. The business has a 50 day simple moving average of $204.63 and a two-hundred day simple moving average of $178.81. The stock has a market capitalization of $176.22 billion, a PE ratio of 24.95, a P/E/G ratio of 3.24 and a beta of 1.58.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be given a $0.40 dividend. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Wednesday, May 22nd. Applied Materials’s payout ratio is currently 15.06%.

Wall Street Analysts Forecast Growth

AMAT has been the subject of a number of research reports. Stifel Nicolaus reiterated a “buy” rating and set a $230.00 target price on shares of Applied Materials in a research note on Wednesday. B. Riley upped their price objective on Applied Materials from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Friday. Raymond James raised their target price on Applied Materials from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday. Wells Fargo & Company upped their price target on shares of Applied Materials from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday. Finally, TD Cowen increased their price objective on shares of Applied Materials from $245.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, Applied Materials has an average rating of “Moderate Buy” and an average target price of $215.64.

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About Applied Materials

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Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.

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Earnings History for Applied Materials (NASDAQ:AMAT)

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