Seaport Res Ptn Comments on Amphenol Co.’s Q2 2024 Earnings (NYSE:APH)

Amphenol Co. (NYSE:APH) – Equities research analysts at Seaport Res Ptn issued their Q2 2024 earnings per share (EPS) estimates for Amphenol in a research note issued to investors on Monday, May 20th. Seaport Res Ptn analyst S. Graham anticipates that the electronics maker will post earnings of $0.80 per share for the quarter. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for Amphenol’s current full-year earnings is $3.36 per share. Seaport Res Ptn also issued estimates for Amphenol’s Q3 2024 earnings at $0.89 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.43 EPS, Q1 2025 earnings at $0.92 EPS, Q2 2025 earnings at $0.94 EPS, Q3 2025 earnings at $1.00 EPS, Q4 2025 earnings at $1.04 EPS and FY2025 earnings at $3.90 EPS.

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 the consensus estimate of $3.10 billion. Amphenol had a return on equity of 23.85% and a net margin of 15.87%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business earned $0.69 EPS.

A number of other equities research analysts also recently weighed in on the company. Bank of America boosted their target price on Amphenol from $137.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. UBS Group upped their price objective on Amphenol from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Robert W. Baird upped their price objective on Amphenol from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Truist Financial upped their price objective on Amphenol from $121.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Jefferies Financial Group initiated coverage on Amphenol in a research report on Tuesday, April 9th. They set a “hold” rating and a $125.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.45.

Amphenol Price Performance

Shares of NYSE:APH opened at $135.40 on Wednesday. Amphenol has a 1-year low of $72.77 and a 1-year high of $135.68. The firm has a market capitalization of $81.32 billion, a PE ratio of 41.41, a PEG ratio of 3.33 and a beta of 1.27. The business’s 50 day moving average is $118.23 and its 200-day moving average is $105.37. The company has a current ratio of 2.06, a quick ratio of 1.43 and a debt-to-equity ratio of 0.41.

Amphenol shares are scheduled to split on Wednesday, June 12th. The 2-1 split was announced on Wednesday, June 12th. The newly issued shares will be payable to shareholders after the market closes on Wednesday, June 12th.

Institutional Investors Weigh In On Amphenol

A number of institutional investors and hedge funds have recently made changes to their positions in APH. Frazier Financial Advisors LLC acquired a new position in Amphenol during the 4th quarter worth approximately $29,000. WASHINGTON TRUST Co raised its position in Amphenol by 88.2% during the 1st quarter. WASHINGTON TRUST Co now owns 320 shares of the electronics maker’s stock worth $37,000 after buying an additional 150 shares during the last quarter. Venturi Wealth Management LLC raised its position in Amphenol by 75.5% during the 4th quarter. Venturi Wealth Management LLC now owns 330 shares of the electronics maker’s stock worth $33,000 after buying an additional 142 shares during the last quarter. Avior Wealth Management LLC raised its position in Amphenol by 70.8% during the 4th quarter. Avior Wealth Management LLC now owns 333 shares of the electronics maker’s stock worth $33,000 after buying an additional 138 shares during the last quarter. Finally, Mendota Financial Group LLC purchased a new position in Amphenol during the 4th quarter worth $33,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Peter Straub sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $110.64, for a total transaction of $2,212,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Amphenol Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.65%. Amphenol’s dividend payout ratio (DPR) is 26.91%.

Amphenol declared that its Board of Directors has initiated a share buyback plan on Wednesday, April 24th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership 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.