Amphenol (NYSE:APH) Issues Earnings Results

Amphenol (NYSE:APH) announced its quarterly earnings data on Wednesday. The electronics maker reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07, Briefing.com reports. Amphenol had a return on equity of 23.94% and a net margin of 15.36%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the firm posted $0.69 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Amphenol updated its Q2 guidance to $0.79-0.81 EPS and its Q2 2024 guidance to 0.790-0.810 EPS.

Amphenol Stock Performance

NYSE APH traded down $0.27 on Thursday, reaching $116.04. The stock had a trading volume of 608,858 shares, compared to its average volume of 2,823,291. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.48 and a current ratio of 2.17. Amphenol has a 12-month low of $72.00 and a 12-month high of $119.59. The business’s 50-day moving average price is $111.48 and its 200 day moving average price is $99.30. The stock has a market cap of $69.81 billion, a P/E ratio of 37.14, a price-to-earnings-growth ratio of 3.06 and a beta of 1.30.

Amphenol Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Tuesday, March 19th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.76%. The ex-dividend date was Monday, March 18th. Amphenol’s payout ratio is 28.30%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Amphenol in a report on Tuesday, April 9th. They set a “hold” rating and a $125.00 price target on the stock. Citigroup raised their price objective on Amphenol from $117.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Bank of America raised their price objective on Amphenol from $117.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Robert W. Baird lifted their target price on Amphenol from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, UBS Group lifted their target price on Amphenol from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Amphenol has a consensus rating of “Moderate Buy” and a consensus price target of $115.67.

Insider Activity

In other Amphenol news, insider Peter Straub sold 20,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was 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 SEC, which is accessible through the SEC website. In other news, insider Peter Straub sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $110.64, for a total value of $2,212,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William J. Doherty sold 170,000 shares of the 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. Over the last 90 days, insiders have sold 305,000 shares of company stock valued at $31,846,050. Company insiders own 1.80% of the company’s stock.

Amphenol announced that its Board of Directors has authorized a share buyback plan on Wednesday, April 24th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the electronics maker to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management 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.