TE Connectivity (NYSE:TEL) Releases Q3 Earnings Guidance

TE Connectivity (NYSE:TEL) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.85 for the period, compared to the consensus 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 Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Jefferies Financial Group assumed coverage on TE Connectivity in a research note on Tuesday, April 9th. They issued a buy rating and a $180.00 target price on the stock. StockNews.com started coverage on TE Connectivity in a research note on Monday, April 22nd. They issued a buy rating on the stock. Stifel Nicolaus upped 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. JPMorgan Chase & Co. cut their price objective on TE Connectivity from $170.00 to $169.00 and set a neutral rating for the company in a report on Thursday. Finally, Truist Financial upped their price objective on TE Connectivity from $148.00 to $153.00 and gave the stock a hold rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $153.50.

TE Connectivity Trading Down 0.2 %

NYSE TEL opened at $140.21 on Friday. TE Connectivity has a fifty-two week low of $115.00 and a fifty-two week high of $147.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.45. The stock has a 50 day simple moving average of $142.55 and a two-hundred day simple moving average of $136.17. The stock has a market cap of $43.58 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter last year, the business posted $1.65 EPS. The business’s revenue was down 4.6% on a year-over-year basis. On average, analysts forecast that TE Connectivity will post 7.56 earnings per share for the current year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is currently 21.59%.

Insider Transactions at TE Connectivity

In related news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.86% of the company’s stock.

TE Connectivity Company Profile

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.