TE Connectivity (NYSE:TEL) Releases Earnings Results, Beats Expectations By $0.03 EPS

TE Connectivity (NYSE:TEL) released its earnings results on Wednesday. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.03, Briefing.com reports. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. TE Connectivity’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.65 earnings per share. TE Connectivity updated its Q3 2024 guidance to 1.850-1.850 EPS and its Q3 guidance to $1.85 EPS.

TE Connectivity Trading Up 0.4 %

NYSE TEL traded up $0.57 on Friday, reaching $141.05. The company had a trading volume of 443,950 shares, compared to its average volume of 2,191,042. 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 current ratio of 1.45 and a quick ratio of 1.16. The business has a 50 day moving average of $142.59 and a two-hundred day moving average of $136.06. The firm has a market cap of $43.84 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 1.99 and a beta of 1.39.

TE Connectivity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.84%. TE Connectivity’s dividend payout ratio (DPR) is presently 21.59%.

Insiders Place Their Bets

In other news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction dated Monday, January 29th. The shares were 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 directly owns 30,459 shares in the company, valued at $4,386,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TEL. Jefferies Financial Group initiated coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target for the company. Citigroup began coverage on shares of TE Connectivity in a report on Friday, January 5th. They set a “neutral” rating and a $146.00 target price for the company. Robert W. Baird cut their price objective on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research report on Thursday. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Finally, Truist Financial upped their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and a consensus price target of $153.50.

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.