Amphenol Corporation [NYSE: APH] gained 1.24% or 1.43 points to close at $116.50 with a heavy trading volume of 1404452 shares. The company report on October 21, 2020 that Third Quarter 2020 Record Results and Dividend Increase Reported by Amphenol Corporation.
Amphenol Corporation (NYSE: APH) reported today record GAAP diluted Earnings Per Share (“EPS”) for the third quarter 2020 of $1.12 compared to $0.92 for the comparable 2019 period. GAAP diluted EPS for the third quarter 2020 included an excess tax benefit of $11 million ($0.03 per share) related to stock options exercised during the quarter. Third quarter 2019 GAAP diluted EPS included refinancing-related costs of $14 million ($0.04 per share) associated with the early extinguishment of debt, partially offset by an excess tax benefit of $2 million ($0.01 per share) related to stock options exercised during the period. Excluding the effect of these items, Adjusted Diluted EPS1 for the third quarter 2020 was a record $1.09 compared to $0.95 for the third quarter 2019. Sales for the third quarter 2020 were a record $2.323 billion compared to $2.101 billion for the comparable 2019 period. Currency translation had the effect of increasing sales by $17 million in the third quarter 2020 compared to the 2019 period.
For the nine months ended September 30, 2020, GAAP Diluted EPS was $2.76, compared to $2.72 for the comparable 2019 period. GAAP Diluted EPS for the nine months ended September 30, 2020 included (i) an excess tax benefit of $28 million ($0.09 per share) related to stock options exercised during the period and (ii) a discrete tax benefit of $20 million ($0.06 per share) related to the settlements of refund claims in certain non-U.S. jurisdictions and the resulting adjustments to deferred taxes. The comparable 2019 period included acquisition-related costs of $25 million ($0.07 per share) and refinancing-related costs associated with the early extinguishment of debt during the period of $14 million ($0.04 per share), partially offset by an excess tax benefit of $21 million ($0.07 per share) related to stock options exercised during the period. Excluding the effect of these items, Adjusted Diluted EPS for the nine months ended September 30, 2020 and 2019 was $2.61 and $2.76, respectively. This decline in Adjusted Diluted EPS largely reflects the impact of the disruptions and costs associated with the COVID-19 pandemic. Sales for the nine months ended September 30, 2020 were $6.173 billion compared to $6.074 billion for the 2019 period. Currency translation had the effect of decreasing sales by $23 million for the first nine months of 2020 compared to the 2019 period.
It opened the trading session at $116.67, the shares rose to $118.85 and dropped to $116.41, the range by which the price of stock traded the whole day. The daily chart for APH points out that the company has recorded 35.34% gains over the past six months. However, it is still -84.77% lower than its most recent low trading price.
If we look at the average trading volume of 1.33M shares, APH reached to a volume of 1404452 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Amphenol Corporation [APH]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for APH shares is $126.19 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on APH stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Robert W. Baird have made an estimate for Amphenol Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 20, 2020. While these analysts kept the previous recommendation, UBS raised their target price to Buy. The new note on the price target was released on September 16, 2020, representing the official price target for Amphenol Corporation stock. Previously, the target price had yet another raise to $110, while Morgan Stanley analysts kept a Equal-Weight rating on APH stock.
The Average True Range (ATR) for Amphenol Corporation is set at 3.07, with the Price to Sales ratio for APH stock in the period of the last 12 months amounting to 4.20. The Price to Book ratio for the last quarter was 6.91, with the Price to Cash per share for the same quarter was set at 4.85. Price to Free Cash Flow for APH in the course of the last twelve months was 34.91 with Quick ratio for the last quarter at 1.60.
Trading performance analysis for APH stock
Amphenol Corporation [APH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.26. With this latest performance, APH shares gained by 4.46% in over the last four-week period, additionally plugging by 35.34% over the last 6 months – not to mention a rise of 11.80% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for APH stock in for the last two-week period is set at 57.26, with the RSI for the last a single of trading hit 58.60, and the three-weeks RSI is set at 57.63 for Amphenol Corporation [APH]. The present Moving Average for the last 50 days of trading for this stock 110.59, while it was recorded at 113.82 for the last single week of trading, and 98.01 for the last 200 days.
Amphenol Corporation [APH]: A deeper dive into fundamental analysis
Amphenol Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.30.
Amphenol Corporation [APH]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Amphenol Corporation posted 0.98/share EPS, while the average EPS was predicted by analysts to be reported at 0.91/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for APH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Amphenol Corporation go to 5.00%.
An analysis of insider ownership at Amphenol Corporation [APH]
There are presently around $32,982 million, or 96.80% of APH stock, in the hands of institutional investors. The top three institutional holders of APH stocks are: VANGUARD GROUP INC with ownership of 33,253,741, which is approximately -1.626% of the company’s market cap and around 0.20% of the total institutional ownership; FMR LLC, holding 25,721,545 shares of the stock with an approximate value of $3.0 billion in APH stocks shares; and BLACKROCK INC., currently with $2.75 billion in APH stock with ownership of nearly -1.721% of the company’s market capitalization.
355 institutional holders increased their position in Amphenol Corporation [NYSE:APH] by around 21,061,408 shares. Additionally, 338 investors decreased positions by around 20,697,448 shares, while 86 investors held positions by with 241,344,967 shares. The mentioned changes placed institutional holdings at 283,103,823 shares, according to the latest SEC report filing. APH stock had 90 new institutional investments in for a total of 5,652,810 shares, while 64 institutional investors sold positions of 1,151,281 shares during the same period.