TE Connectivity (NYSE:TEL) Issues Q3 Earnings Guidance

TE Connectivity (NYSE:TEL) issued an update on its third quarter earnings guidance on Wednesday morning. 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.

TE Connectivity Trading Down 0.4 %

TEL stock opened at $143.14 on Wednesday. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $147.98. The firm has a market cap of $44.49 billion, a P/E ratio of 13.58, a P/E/G ratio of 2.04 and a beta of 1.39. The business’s 50 day moving average is $142.71 and its 200-day moving average is $136.00. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27.

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

TE Connectivity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a $0.65 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.82%. TE Connectivity’s dividend payout ratio is currently 22.39%.

Analyst Ratings Changes

TEL has been the topic of several analyst reports. Truist Financial upped their price objective on TE Connectivity from $148.00 to $153.00 and gave the company a hold rating in a research note on Thursday, January 25th. Stifel Nicolaus boosted their target price on TE Connectivity from $140.00 to $145.00 and gave the stock a hold rating in a report on Thursday, January 25th. The Goldman Sachs Group reissued a buy rating on shares of TE Connectivity in a report on Monday, April 1st. Citigroup began coverage on TE Connectivity in a report on Friday, January 5th. They issued a neutral rating and a $146.00 target price on the stock. Finally, Robert W. Baird boosted their target price on TE Connectivity from $147.00 to $155.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $153.30.

Insider Buying and Selling at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares in the company, valued at approximately $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.