Amphenol Corporation (NYSE:APH) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS
Amphenol Corporation (NYSE:APH) posted its earnings results on Wednesday, July 26th. The electronics maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.09, Bloomberg Earnings reports. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.62 billion. Amphenol Corporation had a return on equity of 24.98% and a net margin of 14.37%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Amphenol Corporation updated its Q3 guidance to $0.77-0.79 EPS and its FY17 guidance to $3.06-3.10 EPS.
Shares of Amphenol Corporation (NYSE:APH) opened at 77.98 on Tuesday. Amphenol Corporation has a 12-month low of $59.37 and a 12-month high of $78.39. The firm has a market cap of $23.85 billion, a P/E ratio of 26.26 and a beta of 0.77. The company’s 50 day moving average price is $74.94 and its 200-day moving average price is $71.93.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Monday, September 18th will be issued a dividend of $0.19 per share. This is an increase from Amphenol Corporation’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.97%. Amphenol Corporation’s payout ratio is 21.55%.
In other Amphenol Corporation news, SVP Zachary W. Raley sold 432,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $74.12, for a total transaction of $32,019,840.00. Following the completion of the sale, the senior vice president now directly owns 144,000 shares of the company’s stock, valued at approximately $10,673,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard Adam Norwitt sold 200,000 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $73.10, for a total value of $14,620,000.00. Following the sale, the chief executive officer now directly owns 293,992 shares of the company’s stock, valued at $21,490,815.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,203,400 shares of company stock valued at $90,352,140. Insiders own 2.51% of the company’s stock.
A number of hedge funds have recently bought and sold shares of APH. Birch Hill Investment Advisors LLC bought a new stake in Amphenol Corporation during the first quarter worth $105,000. Dupont Capital Management Corp bought a new stake in Amphenol Corporation during the second quarter worth $109,000. YorkBridge Wealth Partners LLC boosted its stake in Amphenol Corporation by 300.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,600 shares of the electronics maker’s stock worth $114,000 after buying an additional 1,200 shares during the last quarter. Israel Discount Bank of New York bought a new stake in Amphenol Corporation during the first quarter worth $121,000. Finally, Pinnacle Bank bought a new stake in Amphenol Corporation during the first quarter worth $122,000. 96.75% of the stock is owned by institutional investors.
Several equities research analysts have weighed in on the company. Royal Bank Of Canada reissued a “buy” rating on shares of Amphenol Corporation in a report on Thursday, June 1st. Stifel Nicolaus raised their price target on Amphenol Corporation from $64.00 to $72.00 and gave the stock a “hold” rating in a report on Thursday, April 27th. BidaskClub downgraded Amphenol Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) downgraded Amphenol Corporation from a “buy” rating to a “neutral” rating and raised their price target for the stock from $75.00 to $78.00 in a report on Wednesday, July 5th. Finally, Zacks Investment Research downgraded Amphenol Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Amphenol Corporation presently has an average rating of “Buy” and a consensus price target of $78.38.
Amphenol Corporation Company Profile
Amphenol Corporation (Amphenol) is a designer, manufacturer and marketer of electrical, electronic and fiber optic connectors, interconnect systems, antennas, sensors and sensor- based products, and coaxial and specialty cable. The Company operates through two segments, which include Interconnect Products and Assemblies, and Cable Products and Solutions.
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