TE Connectivity (NYSE:TEL) Issues Q3 Earnings Guidance

TE Connectivity (NYSE:TEL) updated its third quarter earnings guidance on Wednesday. The company provided EPS guidance of $1.85 for the period, compared to the consensus EPS estimate of $1.92. The company issued revenue guidance of approx $4.0 billion, compared to the consensus revenue estimate of $4.11 billion. TE Connectivity also updated its Q3 2024 guidance to 1.850-1.850 EPS.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TEL. The Goldman Sachs Group restated a buy rating on shares of TE Connectivity in a research report on Monday, April 1st. JPMorgan Chase & Co. raised their target price on TE Connectivity from $169.00 to $170.00 and gave the company a neutral rating in a research report on Thursday, April 11th. Jefferies Financial Group started coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a buy rating and a $180.00 target price on the stock. StockNews.com started coverage on TE Connectivity in a report on Monday. They issued a buy rating on the stock. Finally, Stifel Nicolaus lifted their price objective on TE Connectivity from $140.00 to $145.00 and gave the stock a hold rating in a report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $153.30.

TE Connectivity Trading Down 2.3 %

Shares of TEL stock traded down $3.23 during trading on Wednesday, hitting $140.00. 5,767,071 shares of the stock traded hands, compared to its average volume of 2,201,586. The firm has a market capitalization of $43.51 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. The firm’s fifty day moving average price is $142.71 and its 200-day moving average price is $136.00. TE Connectivity has a 52-week low of $115.00 and a 52-week high of $147.98.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.53 earnings per share. As a group, research analysts forecast that TE Connectivity will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Friday, February 21st. TE Connectivity’s payout ratio is 24.67%.

Insider Buying and Selling at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the sale, the insider now owns 30,459 shares of the company’s stock, valued at $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.86% of the stock is owned by corporate insiders.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.