Amphenol (NYSE:APH) Releases Q2 2024 Earnings Guidance

Amphenol (NYSE:APH) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.790-0.810 for the period, compared to the consensus earnings per share 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 1.3 %

NYSE APH traded up $1.51 on Thursday, reaching $117.82. The company had a trading volume of 1,930,503 shares, compared to its average volume of 2,839,484. The firm has a market capitalization of $70.88 billion, a PE ratio of 37.88, a P/E/G ratio of 3.06 and a beta of 1.30. Amphenol has a 1 year low of $72.00 and a 1 year high of $119.59. The firm has a 50-day moving average of $111.48 and a 200-day moving average of $99.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.17 and a quick ratio of 1.48.

Amphenol (NYSE:APH) last issued its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Amphenol had a net margin of 15.36% and a return on equity of 23.94%. The company’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 earnings per share. On average, equities research analysts anticipate that Amphenol will post 3.28 EPS for the current fiscal year.

Amphenol Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Tuesday, March 19th were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.75%. Amphenol’s dividend payout ratio (DPR) is currently 28.30%.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on APH. JPMorgan Chase & Co. boosted their price objective on Amphenol from $125.00 to $130.00 and gave the stock an overweight rating in a research note on Thursday. Bank of America increased their price target on Amphenol from $121.00 to $124.00 and gave the company a buy rating in a research report on Thursday. Evercore ISI lifted their price target on Amphenol from $125.00 to $130.00 and gave the stock an outperform rating in a report on Thursday. Robert W. Baird boosted their price objective on Amphenol from $123.00 to $124.00 and gave the stock an outperform rating in a research report on Thursday. Finally, Jefferies Financial Group assumed coverage on Amphenol in a research note on Tuesday, April 9th. They issued a hold rating and a $125.00 price objective on the stock. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $116.58.

Insider Buying and Selling at Amphenol

In other Amphenol news, insider William J. Doherty sold 170,000 shares of Amphenol stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $103.50, for a total value of $17,595,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider William J. Doherty sold 170,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.50, for a total value of $17,595,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Craig A. Lampo sold 100,000 shares of the stock in a transaction that occurred on 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 directly owns 147,045 shares in the company, 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 over the last three months. Corporate insiders own 1.80% of the company’s stock.

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.