Amphenol (NYSE:APH) Posts Earnings Results, Beats Estimates By $0.03 EPS

Amphenol (NYSE:APH) posted its quarterly earnings data on Wednesday. The electronics maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03, Briefing.com reports. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The firm’s revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 EPS. Amphenol updated its Q3 guidance to $0.43-0.45 EPS and its Q3 2024 guidance to 0.430-0.450 EPS.

Amphenol Price Performance

Shares of Amphenol stock traded up $2.08 on Friday, reaching $63.84. 10,339,202 shares of the stock were exchanged, compared to its average volume of 6,493,976. The firm’s 50 day moving average is $67.30 and its 200-day moving average is $59.39. Amphenol has a one year low of $39.34 and a one year high of $70.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.43 and a current ratio of 2.02. The firm has a market cap of $76.69 billion, a PE ratio of 37.77, a P/E/G ratio of 2.89 and a beta of 1.25.

Amphenol Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.03%. Amphenol’s payout ratio is presently 26.91%.

Amphenol announced that its Board of Directors has authorized a share buyback program on Wednesday, April 24th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the electronics maker to reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Amphenol

In other news, insider Luc Walter sold 230,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $67.57, for a total transaction of $15,541,100.00. Following the completion of the sale, the insider now owns 397,280 shares of the company’s stock, valued at approximately $26,844,209.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on APH shares. Citigroup boosted their price objective on shares of Amphenol from $67.50 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Robert W. Baird cut their price objective on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday. Jefferies Financial Group began coverage on shares of Amphenol in a research report on Tuesday, April 9th. They set a “hold” rating and a $62.50 price target on the stock. Truist Financial boosted their price target on shares of Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Amphenol from $62.50 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.35.

About Amphenol

Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the United States, China, and internationally. It operates through three segments: Harsh Environment Solutions, Communications Solutions, and Interconnect and Sensor Systems.