Stock Update: Applied Materials Inc (NASDAQ:AMAT) – Applied Materials (AMAT) Stock Price Target Lifted at Nomura

[at TheStreet] – Applied Materials (AMAT) stock price target was raised to $28 from $25 at Nomura on Thursday morning. Read more on this. Applied Materials, Inc. (AMAT) , valued at $26.41B, started trading this morning at $24.34. Looking at today’s trading action, the company’s one day range from $24.13 to $24.44 with a one year range of $14.25 to $24.65. AMAT shares are currently priced at 15.67x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 25.28x earnings multiple. And for dividend hunters, the company pays shareholders $0.40 per share annually in dividends, yielding 1.69%. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $0.48 per share, which would be $0.15 better than the year-ago quarter and a $0.12 sequential increase. What we find to be interesting is that the full-year EPS estimate of $1.53 is a $0.34 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.85 Billion. If reported, that would be a 14.46% increase over the year-ago quarter. More recently, Citigroup upgraded AMAT from Neutral to Buy (May 25, 2016). Previously, Susquehanna downgraded AMAT from Neutral to Negative. The average price target for AMAT shares by the analysts covering it is $26.31, which is 8.09% above where the stock opened. See more in (NASDAQ:AMAT) Similar Articles: Company Update (NASDAQ:AMAT): Applied Materials (AMAT) Stock Price Target Increased at Pacific Crest Company Update: Applied Materials Inc (NASDAQ:AMAT) – Applied Materials (AMAT) Stock Soars on Earnings Beat, Jim Cramer’s View Stock Update: Applied Materials Inc (NASDAQ:AMAT) – Applied Materials (AMAT) Stock Lower Ahead of Today’s Earnings Report