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

Amphenol (NYSE:APH) posted its earnings results on Wednesday. The electronics maker reported $0.80 earnings per share for the quarter, beating 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 analysts’ expectations of $3.10 billion. Amphenol had a net margin of 15.87% and a return on equity of 23.85%. Amphenol’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company 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 Performance

Shares of APH traded up $1.48 during trading hours on Friday, hitting $120.49. The stock had a trading volume of 4,024,837 shares, compared to its average volume of 2,885,384. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.48 and a current ratio of 2.06. The firm has a 50-day moving average price of $111.74 and a 200 day moving average price of $99.44. Amphenol has a fifty-two week low of $72.77 and a fifty-two week high of $121.25. The firm has a market capitalization of $72.48 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 3.10 and a beta of 1.30.

Amphenol Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Tuesday, March 19th were issued 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 currently 26.91%.

Insider Activity at Amphenol

In related news, insider Peter Straub sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $110.64, for a total value of $2,212,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Peter Straub sold 20,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $110.64, for a total value of $2,212,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Craig A. Lampo sold 100,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $104.67, for a total transaction of $10,467,000.00. Following the completion of the sale, the chief financial officer now owns 147,045 shares of the company’s stock, valued at $15,391,200.15. The disclosure for this sale can be found here. Insiders sold a total of 305,000 shares of company stock worth $31,846,050 in the last three months. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on APH shares. Evercore ISI lifted 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. Stifel Nicolaus lifted their price objective on shares of Amphenol from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. The Goldman Sachs Group lifted their price objective on shares of Amphenol from $107.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Citigroup lifted their price objective on shares of Amphenol from $117.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, Bank of America lifted their price objective on shares of Amphenol from $121.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.83.

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