Applied Materials (NASDAQ:AMAT) Issues Q3 2024 Earnings Guidance

Applied Materials (NASDAQ:AMATGet Free Report) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.830-2.190 for the period, compared to the consensus earnings per share estimate of 1.830. The company issued revenue guidance of $6.3 billion-$7.1 billion, compared to the consensus revenue estimate of $6.1 billion. Applied Materials also updated its Q3 guidance to $1.83-2.19 EPS.

Applied Materials Trading Down 0.9 %

NASDAQ:AMAT opened at $212.08 on Friday. The company’s 50 day moving average is $204.63 and its 200-day moving average is $178.81. The company has a quick ratio of 1.91, a current ratio of 2.71 and a debt-to-equity ratio of 0.31. Applied Materials has a 12 month low of $120.18 and a 12 month high of $219.36. The firm has a market cap of $176.22 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 3.19 and a beta of 1.58.

Applied Materials (NASDAQ:AMATGet Free Report) last announced its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping the consensus estimate of $1.97 by $0.12. Applied Materials had a net margin of 27.57% and a return on equity of 42.43%. The firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.54 billion. During the same quarter last year, the firm posted $2.00 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts anticipate that Applied Materials will post 8.07 EPS for the current year.

Applied Materials Increases Dividend

The business 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 0.75%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.32. Applied Materials’s payout ratio is 14.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Applied Materials from $230.00 to $240.00 and gave the company an overweight rating in a research note on Friday. Susquehanna raised their price objective on shares of Applied Materials from $160.00 to $185.00 and gave the stock a neutral rating in a report on Thursday. The Goldman Sachs Group boosted their target price on Applied Materials from $156.00 to $220.00 and gave the stock a buy rating in a report on Friday, February 16th. Jefferies Financial Group downgraded Applied Materials from a buy rating to a hold rating and cut their price objective for the company from $215.00 to $210.00 in a research report on Monday, May 13th. Finally, UBS Group increased their target price on Applied Materials from $185.00 to $235.00 and gave the stock a neutral rating in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $215.64.

View Our Latest Stock Report on Applied Materials

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 and Estimates for Applied Materials (NASDAQ:AMAT)

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