Amphenol Analysts Increase Their Forecasts Following Better-Than-Expected Q3 Earnings

Amphenol Corporation APH reported better-than-expected earnings for its fiscal third quarter on Wednesday.

The company posted sales increase of 26% year-on-year to $4.04 billion, beating the analyst consensus estimate of $3.80 billion. Adjusted EPS of 50 cents topped the analyst consensus estimate of 45 cents.

CEO R. Adam Norwitt: "Sales increased from prior year by 26%, driven by robust organic growth in the IT datacom, mobile networks, mobile devices, commercial air and defense markets, as well as contributions from the Company's acquisition program. During the quarter, we again realized strong profitability with Adjusted Operating Margin reaching a record 21.9%."

Amphenol expects fourth-quarter sales of $3.95 billion-$4.05 billion. This represents a 19%-22% increase over the prior-year quarter, and the street view pegs expectations at $3.80 billion. The company sees adjusted EPS of $0.48–$0.50, representing a 17%–22% increase Y/Y. The analyst consensus stands at $0.45.

Amphenol shares gained 2.4% to close at $68.47 on Wednesday.

These analysts made changes to their price targets on Amphenol following earnings announcement.

• Baird analyst Luke Junk maintained Amphenol with an Outperform and raised the price target from $71 to $77.
• B of A Securities analyst Wamsi Mohan maintained the stock with a Neutral and raised the price target from $70 to $74.

Considering buying APH stock? Here’s what analysts think:

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