Amphenol (NYSE:APH) Updates Q2 2024 Earnings Guidance

Amphenol (NYSE:APH) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.790-0.810 for the period, compared to the consensus EPS estimate of 0.790. The company issued revenue guidance of $3.2 billion-$3.3 billion, compared to the consensus revenue estimate of $3.3 billion. Amphenol also updated its Q2 guidance to $0.79-0.81 EPS.

Amphenol Stock Up 1.2 %

Shares of APH traded up $1.48 during mid-day trading on Friday, hitting $120.49. The company’s stock had a trading volume of 4,172,919 shares, compared to its average volume of 3,505,085. Amphenol has a 52-week low of $72.77 and a 52-week high of $121.25. The company’s 50-day moving average is $112.04 and its 200-day moving average is $99.70. The company has a current ratio of 2.06, a quick ratio of 1.48 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $72.48 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 3.13 and a beta of 1.30.

Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.73 by $0.07. Amphenol had a net margin of 15.87% and a return on equity of 23.85%. 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 business earned $0.69 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. On average, equities research analysts forecast that Amphenol will post 3.34 EPS for the current fiscal year.

Amphenol Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Tuesday, March 19th were paid a $0.22 dividend. The ex-dividend date was Monday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.73%. Amphenol’s payout ratio is 26.91%.

Amphenol declared that its board has approved a stock buyback plan on Wednesday, April 24th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on APH shares. UBS Group lifted their price objective on shares of Amphenol from $135.00 to $138.00 and gave the company a buy rating in a research note on Thursday. Robert W. Baird increased their price objective on Amphenol from $123.00 to $124.00 and gave the stock an outperform rating in a research note on Thursday. Bank of America raised their target price on Amphenol from $121.00 to $124.00 and gave the company a buy rating in a research note on Thursday. Citigroup raised their target price on Amphenol from $117.00 to $135.00 and gave the stock a buy rating in a report on Thursday, April 4th. Finally, Truist Financial lifted their price objective on Amphenol from $121.00 to $136.00 and gave the company a buy rating in a report on Thursday. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Amphenol presently has a consensus rating of Moderate Buy and a consensus price target of $118.83.

Insider Transactions at Amphenol

In other Amphenol news, insider Peter Straub sold 20,000 shares of Amphenol stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $110.64, for a total transaction of $2,212,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Lance E. D’amico sold 15,000 shares of the business’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 sale, the vice president now directly owns 25,700 shares of the company’s stock, valued at approximately $2,692,075. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Peter Straub sold 20,000 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 305,000 shares of company stock valued at $31,846,050 over the last three months. Company insiders own 1.80% of the company’s stock.

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.