Amphenol (NYSE:APH) Posts Earnings Results, Beats Expectations By $0.07 EPS

Amphenol (NYSE:APH) issued its quarterly earnings data on Wednesday. The electronics maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07, Briefing.com reports. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Amphenol had a net margin of 15.87% and a return on equity of 23.85%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 EPS. Amphenol updated its Q2 guidance to $0.79-0.81 EPS and its Q2 2024 guidance to 0.790-0.810 EPS.

Amphenol Trading Up 1.7 %

Shares of APH traded up $2.06 during trading hours on Friday, reaching $121.07. The stock had a trading volume of 2,029,036 shares, compared to its average volume of 2,859,521. The firm has a 50-day moving average of $111.74 and a 200 day moving average of $99.44. The company has a market cap of $72.83 billion, a P/E ratio of 36.39, a P/E/G ratio of 3.10 and a beta of 1.30. The company has a quick ratio of 1.48, a current ratio of 2.06 and a debt-to-equity ratio of 0.41. Amphenol has a 52 week low of $72.77 and a 52 week high of $121.11.

Amphenol Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Tuesday, March 19th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Monday, March 18th. Amphenol’s payout ratio is currently 26.91%.

Amphenol announced that its Board of Directors has approved a stock repurchase plan on Wednesday, April 24th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the electronics maker to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have commented on APH. Citigroup lifted their price objective on shares of Amphenol from $117.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. boosted their price target on Amphenol from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Financial upped their price objective on Amphenol from $121.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday. Robert W. Baird upped their target price on Amphenol from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Evercore ISI upped their target price on Amphenol from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

Insider Transactions at Amphenol

In other Amphenol news, VP Lance E. D’amico sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $104.75, for a total transaction of $1,571,250.00. Following the completion of the sale, the vice president now directly owns 25,700 shares in the company, valued at $2,692,075. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Amphenol news, insider Peter Straub sold 20,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $110.64, for a total value of $2,212,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Lance E. D’amico sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $104.75, for a total transaction of $1,571,250.00. Following the completion of the transaction, the vice president now directly owns 25,700 shares of the company’s stock, valued at $2,692,075. The disclosure for this sale can be found here. Insiders sold a total of 305,000 shares of company stock worth $31,846,050 in the last three months. Insiders own 1.80% of the company’s stock.

Amphenol Company Profile

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.