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Based in Wallingford, Connecticut, Amphenol Corporation (APH) is a leading provider of high-performance interconnect systems, specializing in designing, manufacturing, and marketing electrical, electronic, and fiber optic connectors. With a market cap of $83.52 billion, Amphenol is renowned for its innovative solutions that enhance connectivity across diverse industries, including automotive, aerospace, information technology, and telecommunications. The company is set to announce its fiscal Q2 earnings results before the market opens on Wednesday, Jul. 24.
Ahead of the event, analysts expect APH to report a profit of $0.41 per share, up 13.9% from $0.36 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Amphenol's adjusted earnings of $0.40 per share for the last reported quarter surpassed the consensus estimate by 8.1%. The company's strong first-quarter 2024 performance was driven by increased revenues in commercial air, defense, automotive, and IT datacom end markets and robust sales in its Communications Solutions segment.
For fiscal 2024, analysts expect APH to report EPS of $1.69, up 12.7% from $1.50 in fiscal 2023.
APH stock is up 40.3% on a YTD basis, outperforming the broader S&P 500 Index's ($SPX) 17.1% gains and the iShares U.S. Technology ETF’s (IYW) 26.2% returns over the same time frame.
APH’s shares soared for four consecutive trading sessions following its Q1 earnings report. The company posted revenue of $3.3 billion, exceeding forecasts of $3.1 billion.
The consensus opinion on APH stock is bullish, with an overall “Strong Buy” rating. Of 14 analysts covering the stock, 11 advise a “Strong Buy” rating, and three recommend a “Hold.”
The consensus rating is more bullish than three months ago when the stock had a 10 “Strong Buy” rating. APH's average analyst price target is $70.77, indicating a potential upside of 1.8% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
