Amphenol (NYSE:APH) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Amphenol (NYSE:APH) announced its earnings results on Wednesday. The electronics maker reported $0.44 EPS for the quarter, topping the consensus estimate of $0.41 by $0.03, Briefing.com reports. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. Amphenol had a return on equity of 23.85% and a net margin of 15.87%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 EPS. Amphenol updated its Q3 guidance to $0.43-0.45 EPS and its Q3 2024 guidance to 0.430-0.450 EPS.

Amphenol Trading Down 0.4 %

APH opened at $61.76 on Friday. Amphenol has a fifty-two week low of $39.34 and a fifty-two week high of $70.84. The firm has a market capitalization of $74.19 billion, a PE ratio of 37.77, a P/E/G ratio of 3.09 and a beta of 1.25. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.06 and a quick ratio of 1.43. The company’s 50-day moving average is $67.30 and its 200 day moving average is $59.39.

Amphenol Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Tuesday, September 17th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Tuesday, September 17th. Amphenol’s dividend payout ratio (DPR) is 26.91%.

Insider Buying and Selling at Amphenol

In other news, insider Luc Walter sold 230,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $67.57, for a total value of $15,541,100.00. Following the transaction, the insider now owns 397,280 shares in the company, valued at $26,844,209.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

APH has been the topic of several analyst reports. Vertical Research assumed coverage on Amphenol in a report on Tuesday. They issued a “hold” rating and a $65.00 target price on the stock. Stifel Nicolaus reiterated a “hold” rating on shares of Amphenol in a research report on Thursday, June 13th. Truist Financial boosted 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. Seaport Res Ptn raised Amphenol to a “strong-buy” rating in a research report on Monday, May 20th. Finally, Citigroup boosted their price objective on Amphenol from $67.50 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amphenol has an average rating of “Moderate Buy” and a consensus price target of $65.35.

Amphenol announced that its board has approved a stock repurchase program on Wednesday, April 24th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the electronics maker to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Amphenol Company Profile

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.