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

Amphenol (NYSE:APH) issued its quarterly earnings data on Wednesday. The electronics maker reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03, Briefing.com reports. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business earned $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 Trading Down 0.4 %

Shares of NYSE APH opened at $61.76 on Friday. The company has a quick ratio of 1.43, a current ratio of 2.02 and a debt-to-equity ratio of 0.56. Amphenol has a 12 month low of $39.34 and a 12 month high of $70.84. The company has a market cap of $74.19 billion, a price-to-earnings ratio of 37.77, a P/E/G ratio of 2.89 and a beta of 1.25. The business has a fifty day simple moving average of $67.30 and a 200-day simple moving average of $59.39.

Amphenol Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Tuesday, September 17th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Tuesday, September 17th. Amphenol’s dividend payout ratio is presently 26.91%.

Insider Activity at Amphenol

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on APH shares. TD Cowen upped their price target on shares of Amphenol from $45.00 to $57.50 and gave the stock a “hold” rating in a research report on Thursday, June 6th. Truist Financial lifted their price objective on shares of Amphenol from $74.50 to $76.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus reiterated a “hold” rating on shares of Amphenol in a research report on Thursday, June 13th. Bank of America boosted their price target on shares of Amphenol from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, UBS Group upped their price target on shares of Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.35.

Amphenol announced that its Board of Directors has initiated a share repurchase program on Wednesday, April 24th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the electronics maker to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.