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

Amphenol (NYSE:APH) posted its earnings results on Wednesday. The electronics maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07, Briefing.com reports. The company had revenue of $3.26 billion during 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 revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous 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 Price Performance

APH stock traded up $1.34 during midday trading on Friday, reaching $120.35. The company had a trading volume of 1,303,867 shares, compared to its average volume of 2,850,051. The firm has a 50-day moving average price of $111.74 and a 200-day moving average price of $99.44. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.06 and a quick ratio of 1.48. The company has a market capitalization of $72.40 billion, a P/E ratio of 36.39, a P/E/G ratio of 3.10 and a beta of 1.30. Amphenol has a 1 year low of $72.77 and a 1 year high of $120.83.

Amphenol Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Tuesday, March 19th were given 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 dividend payout ratio (DPR) is 26.91%.

Insider Activity

In related news, insider William J. Doherty sold 170,000 shares of the company’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider William J. Doherty sold 170,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $103.50, for a total transaction of $17,595,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Lance E. D’amico sold 15,000 shares of the company’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 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 305,000 shares of company stock worth $31,846,050. 1.80% of the stock is currently owned by corporate insiders.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Jefferies Financial Group began coverage on Amphenol in a research report on Tuesday, April 9th. They set a “hold” rating and a $125.00 target price on the stock. Robert W. Baird lifted their target price on shares of Amphenol from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday. Truist Financial upped their price target on shares of Amphenol from $121.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group raised their price target on Amphenol from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Bank of America boosted their price objective on Amphenol from $121.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

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.