Amphenol (NYSE:APH) Announces Quarterly Earnings Results

Amphenol (NYSE:APH) issued its quarterly earnings results on Wednesday. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03, Briefing.com reports. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the prior year, the company earned $0.72 earnings per share. The business’s quarterly revenue was up 18.2% on a year-over-year basis. Amphenol updated its Q3 guidance to $0.43-0.45 EPS and its Q3 2024 guidance to 0.430-0.450 EPS.

Amphenol Stock Performance

APH traded up $2.61 on Friday, reaching $64.37. The company had a trading volume of 4,629,729 shares, compared to its average volume of 6,454,050. Amphenol has a 1 year low of $39.34 and a 1 year high of $70.84. The stock has a market capitalization of $77.32 billion, a PE ratio of 37.77, a P/E/G ratio of 2.89 and a beta of 1.25. The company has a quick ratio of 1.43, a current ratio of 2.02 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $67.30 and a 200-day moving average price of $59.39.

Amphenol Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th will be given a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.66 dividend on an annualized basis and a yield of 1.03%. Amphenol’s dividend payout ratio (DPR) is presently 26.91%.

Insider Activity at Amphenol

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

Analyst Ratings Changes

Several equities analysts have commented on APH shares. Seaport Res Ptn upgraded shares of Amphenol to a “strong-buy” rating in a research note on Monday, May 20th. Jefferies Financial Group initiated coverage on Amphenol in a report on Tuesday, April 9th. They set a “hold” rating and a $62.50 price target on the stock. Stifel Nicolaus reissued a “hold” rating on shares of Amphenol in a research report on Thursday, June 13th. Truist Financial raised their target price on shares of Amphenol from $74.50 to $76.00 and gave the company a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Amphenol from $62.50 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.35.

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