Zacks Research Comments on Amphenol Co.’s Q2 2024 Earnings (NYSE:APH)

Amphenol Co. (NYSE:APH) – Equities researchers at Zacks Research boosted their Q2 2024 earnings estimates for Amphenol in a research report issued to clients and investors on Thursday, July 18th. Zacks Research analyst A. Ganguly now forecasts that the electronics maker will post earnings of $0.40 per share for the quarter, up from their previous estimate of $0.40. The consensus estimate for Amphenol’s current full-year earnings is $1.69 per share.

Amphenol (NYSE:APH) last announced its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. 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 analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the company posted $0.35 EPS. The business’s revenue was up 9.5% compared to the same quarter last year.

Several other equities research analysts have also weighed in on the company. Seaport Res Ptn raised Amphenol to a “strong-buy” rating in a research note on Monday, May 20th. Jefferies Financial Group assumed coverage on Amphenol in a research report on Tuesday, April 9th. They issued a “hold” rating and a $62.50 price target for the company. Bank of America boosted their price objective on Amphenol from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Stifel Nicolaus reissued a “hold” rating on shares of Amphenol in a research report on Thursday, June 13th. Finally, UBS Group upped their price target on shares of Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.62.

Amphenol Trading Up 0.0 %

Shares of NYSE:APH opened at $66.27 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.43 and a current ratio of 2.06. The stock has a market capitalization of $79.60 billion, a price-to-earnings ratio of 40.53, a PEG ratio of 3.00 and a beta of 1.25. Amphenol has a 1-year low of $39.34 and a 1-year high of $70.84. The company has a 50 day moving average price of $67.47 and a 200 day moving average price of $59.36.

Amphenol declared that its Board of Directors has authorized a share buyback plan on Wednesday, April 24th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Amphenol Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Tuesday, June 18th. Amphenol’s dividend payout ratio is currently 26.91%.

Insider Buying and Selling

In other Amphenol news, insider Luc Walter sold 230,000 shares of the business’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Amphenol

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Amphenol by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 73,459,971 shares of the electronics maker’s stock valued at $8,473,608,000 after purchasing an additional 321,861 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Amphenol by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,224,036 shares of the electronics maker’s stock worth $3,601,694,000 after buying an additional 1,979,022 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Amphenol by 0.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,212,184 shares of the electronics maker’s stock valued at $1,309,724,000 after buying an additional 67,091 shares in the last quarter. Norges Bank acquired a new stake in shares of Amphenol in the fourth quarter worth about $1,078,167,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Amphenol by 78.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,256,433 shares of the electronics maker’s stock worth $286,756,000 after acquiring an additional 1,871,099 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.