Amphenol Corp. (APH) Announces Earnings Results, Beats Expectations By $0.05 EPS
Amphenol Corp. (NYSE:APH) posted its earnings results on Wednesday. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. The company earned $1.64 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Amphenol Corp. had a net margin of 13.03% and a return on equity of 23.72%.
Amphenol Corp. (NYSE:APH) opened at 63.21 on Wednesday. The company has a market cap of $19.51 billion, a PE ratio of 26.00 and a beta of 1.07. The stock has a 50 day moving average of $63.63 and a 200 day moving average of $59.59. Amphenol Corp. has a one year low of $44.50 and a one year high of $65.79.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Tuesday, September 13th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.89%. Amphenol Corp.’s dividend payout ratio is 23.05%.
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In related news, CFO Craig A. Lampo sold 23,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $62.08, for a total value of $1,427,840.00. Following the transaction, the chief financial officer now directly owns 43,000 shares of the company’s stock, valued at approximately $2,669,440. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael R. Ivas sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $61.69, for a total value of $925,350.00. Following the completion of the transaction, the vice president now directly owns 17,500 shares in the company, valued at $1,079,575. The disclosure for this sale can be found here. 2.92% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of APH. Massachusetts Financial Services Co. MA boosted its position in Amphenol Corp. by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,411,195 shares of the company’s stock worth $539,544,000 after buying an additional 235,138 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Amphenol Corp. by 0.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,939,906 shares of the company’s stock worth $455,195,000 after buying an additional 22,689 shares in the last quarter. BlackRock Fund Advisors boosted its position in Amphenol Corp. by 8.4% in the second quarter. BlackRock Fund Advisors now owns 5,181,488 shares of the company’s stock worth $297,055,000 after buying an additional 403,620 shares in the last quarter. Mackenzie Financial Corp boosted its position in Amphenol Corp. by 9.9% in the second quarter. Mackenzie Financial Corp now owns 1,761,847 shares of the company’s stock worth $101,007,000 after buying an additional 158,500 shares in the last quarter. Finally, Atlanta Capital Management Co. L L C boosted its position in Amphenol Corp. by 9.5% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,667,904 shares of the company’s stock worth $95,621,000 after buying an additional 144,887 shares in the last quarter. 96.78% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on APH. Zacks Investment Research upgraded shares of Amphenol Corp. from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Friday, July 22nd. RBC Capital Markets restated a “top pick” rating and set a $63.00 target price (up previously from $61.00) on shares of Amphenol Corp. in a research note on Friday, July 22nd. Royal Bank Of Canada raised their target price on shares of Amphenol Corp. from $61.00 to $63.00 and gave the stock a “top pick” rating in a research note on Thursday, July 21st. Finally, Goldman Sachs Group Inc. upgraded shares of Amphenol Corp. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $60.00 to $70.00 in a research note on Tuesday, September 20th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $68.11.
About Amphenol Corp.
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: Interconnect Products and Assemblies, and Cable Products and Solutions.
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