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

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

Amphenol Stock Up 1.7 %

Shares of APH stock traded up $2.06 during mid-day trading on Friday, reaching $121.07. 2,029,036 shares of the company were exchanged, compared to its average volume of 2,859,521. Amphenol has a fifty-two week low of $72.77 and a fifty-two week high of $121.11. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.48 and a current ratio of 2.06. The company has a market capitalization 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 business’s 50 day simple moving average is $111.74 and its 200 day simple moving average is $99.44.

Amphenol Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis 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%.

Analyst Ratings Changes

APH has been the subject of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of Amphenol from $88.00 to $95.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. UBS Group lifted their price target on shares of Amphenol from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Amphenol from $125.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America lifted their price target on shares of Amphenol from $121.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Jefferies Financial Group started coverage on shares of Amphenol in a research note on Tuesday, April 9th. They issued a “hold” rating and a $125.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $118.83.

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

Insider Transactions at Amphenol

In other news, insider William J. Doherty sold 170,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.50, for a total transaction of $17,595,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Amphenol news, insider William J. Doherty sold 170,000 shares of Amphenol stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $103.50, for a total value of $17,595,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Craig A. Lampo sold 100,000 shares of Amphenol stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $104.67, for a total transaction of $10,467,000.00. Following the completion of the transaction, the chief financial officer now directly owns 147,045 shares of the company’s stock, valued at approximately $15,391,200.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 305,000 shares of company stock valued at $31,846,050. 1.80% of the stock is currently owned by corporate insiders.

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.