Amphenol Co. (NYSE:APH) gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $96.68, but opened at $99.09. Amphenol shares last traded at $101.59, with a volume of 2,033,688 shares.
The electronics maker reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. Amphenol had a return on equity of 29.08% and a net margin of 14.54%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company posted $0.99 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year.
A number of brokerages recently commented on APH. JPMorgan Chase & Co. began coverage on Amphenol in a research report on Tuesday. They issued a “neutral” rating and a $104.00 target price for the company. Morgan Stanley decreased their price objective on Amphenol from $108.00 to $104.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Wells Fargo & Co reissued a “buy” rating on shares of Amphenol in a report on Monday, September 16th. Finally, ValuEngine lowered Amphenol from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $103.91.
A number of institutional investors and hedge funds have recently modified their holdings of APH. Nuveen Asset Management LLC increased its holdings in Amphenol by 1,292.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,644,210 shares of the electronics maker’s stock worth $157,745,000 after purchasing an additional 1,526,113 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Amphenol by 68.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,590,403 shares of the electronics maker’s stock worth $344,463,000 after purchasing an additional 1,461,054 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in Amphenol by 26.9% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 2,310,173 shares of the electronics maker’s stock worth $221,639,000 after purchasing an additional 489,283 shares in the last quarter. BlackRock Inc. increased its holdings in Amphenol by 2.0% during the 2nd quarter. BlackRock Inc. now owns 22,903,031 shares of the electronics maker’s stock worth $2,197,317,000 after purchasing an additional 456,490 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Amphenol by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 32,440,400 shares of the electronics maker’s stock worth $3,112,332,000 after purchasing an additional 398,014 shares in the last quarter. 93.67% of the stock is owned by hedge funds and other institutional investors.
The company has a current ratio of 2.06, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The business has a fifty day simple moving average of $94.83 and a 200 day simple moving average of $94.46. The stock has a market capitalization of $29.87 billion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 2.93 and a beta of 1.03.
About Amphenol (NYSE:APH)
Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors worldwide. It operates through two segments, Interconnect Products and Assemblies, and Cable Products and Solutions. The Interconnect Products and Assemblies segment offers connector and connector systems, including fiber optic, harsh environment, high-speed, and radio frequency interconnect products, as well as antennas; power interconnect products, busbars, and distribution systems; and other connectors.
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