Amphenol Corporation Set to Report Q4 Earnings: Analysts Anticipate Strong Growth
Company Overview
Based in Wallingford, Connecticut, Amphenol Corporation (APH) is a prominent electronics manufacturer. The company specializes in connectors, interconnect systems, antennas, sensors, and cables. With a market capitalization of $83.7 billion, Amphenol serves various sectors such as automotive, aerospace, industrial, and data communications on a global scale. Investors are keenly awaiting the release of its fiscal Q4 earnings results before the market opens on Wednesday, January 22.
Quarterly Earnings Expectations
Before the upcoming earnings announcement, analysts predict that APH will report earnings of $0.50 per share. This marks a 22% increase from the $0.41 per share reported in the same quarter last year. Notably, Amphenol has consistently outperformed Wall Street’s earnings forecasts for the last four quarters. In the latest quarter, the company exceeded the average estimate by 11%.
Fiscal Year 2024 Projections
For fiscal 2024, analysts are forecasting an earnings per share (EPS) of $1.84, reflecting a 22.7% rise from $1.50 in fiscal 2023.
Stock Performance
In the past year, Amphenol’s stock has experienced a remarkable 42.5% increase, significantly outpacing the S&P 500 Index’s growth of 23.7% and the Technology Select Sector SPDR Fund’s (XLK) 23.8% rise during the same timeframe.
Third Quarter Highlights
Following the announcement of its Q3 earnings on October 23, Amphenol’s shares rose by 2.4%. The company reported record sales of $4.04 billion, representing a 26% year-over-year increase, which included 15% organic growth. Furthermore, its adjusted EPS stood at $0.50, up 28% compared to the previous year.
For the fiscal year, sales are expected to be between $14.85 billion and $14.95 billion, with adjusted EPS anticipated to be between $1.82 and $1.84.
Analysts’ Outlook
The consensus among analysts regarding Amphenol’s stock is cautiously optimistic, earning an overall “Moderate Buy” rating. Out of 15 analysts, 10 have designated it as a “Strong Buy,” while five recommend holding the stock.
Currently, the average analyst price target for APH is set at $78.93, indicating a potential upside of 14.4% from its existing price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
