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

Amphenol (NYSE:APH) released its earnings results 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 business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.10 billion. Amphenol had a net margin of 15.87% and a return on equity of 23.85%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. 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 2.3 %

Shares of NYSE APH opened at $119.00 on Friday. The firm’s 50-day simple moving average is $111.74 and its 200 day simple moving average is $99.44. The company has a market cap of $71.59 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth 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 12-month low of $72.00 and a 12-month high of $119.59.

Amphenol Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Tuesday, March 19th were given a dividend of $0.22 per share. The ex-dividend date was Monday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.74%. Amphenol’s dividend payout ratio (DPR) is 26.91%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Truist Financial raised their price target on shares of Amphenol from $121.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup lifted their target price on shares of Amphenol from $117.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Stifel Nicolaus lifted their target price on shares of Amphenol from $88.00 to $95.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. boosted their price objective on shares of Amphenol from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Evercore ISI boosted their price objective on shares of Amphenol from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.83.

Insider Buying and Selling

In related news, insider William J. Doherty sold 170,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.50, for a total transaction of $17,595,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Lance E. D’amico sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $104.75, for a total value of $1,571,250.00. Following the completion of the sale, the vice president now directly owns 25,700 shares of the company’s stock, valued at approximately $2,692,075. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William J. Doherty sold 170,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.50, for a total value of $17,595,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 305,000 shares of company stock worth $31,846,050 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Amphenol declared that its Board of Directors has initiated a stock buyback 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 reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are generally an indication 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.