Atmus Filtration Technologies (NYSE:ATMU) Releases FY 2024 Earnings Guidance

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 2.100-2.350 for the period, compared to the consensus estimate of 2.170. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. Atmus Filtration Technologies also updated its FY24 guidance to $2.10-2.35 EPS.

Atmus Filtration Technologies Stock Performance

Shares of NYSE ATMU traded down $2.48 during mid-day trading on Friday, reaching $28.44. 4,951,353 shares of the company traded hands, compared to its average volume of 3,127,399. Atmus Filtration Technologies has a fifty-two week low of $18.21 and a fifty-two week high of $33.70. The company has a debt-to-equity ratio of 7.34, a current ratio of 1.85 and a quick ratio of 1.18. The stock has a fifty day simple moving average of $29.04 and a 200-day simple moving average of $24.45.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.05. Atmus Filtration Technologies had a return on equity of 135.12% and a net margin of 10.52%. The business had revenue of $399.70 million during the quarter, compared to analyst estimates of $384.55 million. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts anticipate that Atmus Filtration Technologies will post 2.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ATMU. Northland Securities raised shares of Atmus Filtration Technologies from a market perform rating to an outperform rating and set a $34.00 price objective on the stock in a research report on Wednesday, March 20th. Robert W. Baird increased their target price on shares of Atmus Filtration Technologies from $29.00 to $37.00 and gave the company an outperform rating in a research note on Wednesday, April 17th. The Goldman Sachs Group upped their price objective on Atmus Filtration Technologies from $30.00 to $34.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Atmus Filtration Technologies from $36.00 to $38.00 and gave the stock an overweight rating in a research note on Monday, April 15th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $32.67.

About Atmus Filtration Technologies

Atmus Filtration Technologies Inc designs, manufactures, and sells filtration products under the Fleetguard brand name in North America, Europe, South America, Asia, Australia, Africa, and internationally. The company offers fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters, coolants, and fuel additives, as well as other chemicals; and fuel water separators and other filtration systems to original equipment manufacturers, dealers/distributors, and end-users.

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