Zacks: Analysts Expect Applied Materials, Inc. (AMAT) Will Post Quarterly Sales of $3.48 Billion

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Analysts expect that Applied Materials, Inc. (NASDAQ:AMAT) will report sales of $3.48 billion for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Applied Materials’ earnings. The highest sales estimate is $3.50 billion and the lowest is $3.43 billion. Applied Materials posted sales of $4.57 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 23.9%. The business is expected to issue its next earnings report on Thursday, May 16th.

According to Zacks, analysts expect that Applied Materials will report full-year sales of $14.50 billion for the current year, with estimates ranging from $14.38 billion to $14.61 billion. For the next financial year, analysts forecast that the company will post sales of $15.74 billion, with estimates ranging from $15.21 billion to $16.17 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Applied Materials.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, February 14th. The manufacturing equipment provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.02. Applied Materials had a return on equity of 58.28% and a net margin of 23.50%. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the company posted $1.06 earnings per share. The business’s revenue was down 10.7% on a year-over-year basis.

A number of equities analysts recently issued reports on AMAT shares. Stifel Nicolaus set a $63.00 price target on Applied Materials and gave the stock a “buy” rating in a report on Tuesday, January 8th. Zacks Investment Research lowered shares of Applied Materials from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Royal Bank of Canada upgraded shares of Applied Materials from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $38.00 to $45.00 in a report on Tuesday, January 29th. Needham & Company LLC initiated coverage on shares of Applied Materials in a report on Friday, December 21st. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, ValuEngine upgraded shares of Applied Materials from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company. Applied Materials currently has a consensus rating of “Buy” and an average target price of $50.53.

Shares of NASDAQ AMAT traded down $0.30 during midday trading on Friday, reaching $42.69. 3,693,356 shares of the company were exchanged, compared to its average volume of 9,232,782. The company has a quick ratio of 1.74, a current ratio of 2.72 and a debt-to-equity ratio of 0.65. Applied Materials has a 1 year low of $28.79 and a 1 year high of $58.40. The firm has a market cap of $40.32 billion, a P/E ratio of 9.59, a P/E/G ratio of 1.68 and a beta of 1.64.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.20. Applied Materials’s dividend payout ratio is 17.98%.

In related news, insider Omkaram Nalamasu sold 143,255 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $40.73, for a total transaction of $5,834,776.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Steve G. Ghanayem sold 25,000 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $42.70, for a total transaction of $1,067,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 170,255 shares of company stock worth $6,987,176. Company insiders own 0.44% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Moody National Bank Trust Division bought a new position in Applied Materials in the fourth quarter valued at approximately $25,000. Lenox Wealth Advisors LLC boosted its holdings in shares of Applied Materials by 73.7% in the 1st quarter. Lenox Wealth Advisors LLC now owns 780 shares of the manufacturing equipment provider’s stock worth $31,000 after purchasing an additional 331 shares during the period. Sontag Advisory LLC purchased a new position in shares of Applied Materials in the 4th quarter worth approximately $30,000. Bruderman Asset Management LLC purchased a new position in shares of Applied Materials in the 4th quarter worth approximately $31,000. Finally, Nalls Sherbakoff Group LLC purchased a new position in shares of Applied Materials in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 78.97% of the company’s stock.

Applied Materials Company Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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 and Estimates for Applied Materials (NASDAQ:AMAT)

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