BUZZ-Ametek shares fall after forecasting annual profit below estimates
ReutersFeb 4, 2025 3:04 PM
Industrial technology solutions provider Ametek's AME.N shares fall 3.5% to $178 in morning trade
AME forecast lower-than-expected annual profit on Tuesday amid weakness in demand for some of its test and measurement systems
Company expects 2025 adjusted profit per share to be between $7.02 to $7.18, below analysts' average expectation of $7.39/share, according to data compiled by LSEG
Separately, company also announced the acquisition of Germany-based ultra-precision manufacturing solutions maker Kern Microtechnic to strengthen its Electronic Instruments Group (EIG) business
Twelve of 17 brokerages rate AME "buy" or higher, 4 "hold" and one "sell"; their median PT is $205 - data compiled by LSEG
In 2024, AME was up 9.32%
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