Wall Street analysts forecast that TE Connectivity Ltd (NYSE:TEL) will post $1.35 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for TE Connectivity’s earnings. The lowest EPS estimate is $1.35 and the highest is $1.36. TE Connectivity reported earnings of $1.19 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.4%. The business is scheduled to report its next quarterly earnings report on Wednesday, April 25th.
On average, analysts expect that TE Connectivity will report full-year earnings of $5.48 per share for the current fiscal year, with EPS estimates ranging from $5.45 to $5.52. For the next fiscal year, analysts anticipate that the firm will post earnings of $5.90 per share, with EPS estimates ranging from $5.52 to $6.13. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow TE Connectivity.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.15. TE Connectivity had a net margin of 9.12% and a return on equity of 19.49%. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the firm posted $1.15 earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year.
In other news, insider Joan Wainwright sold 63,562 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $94.79, for a total value of $6,025,041.98. Following the completion of the sale, the insider now directly owns 61,292 shares in the company, valued at $5,809,868.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert J. Ott sold 20,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $95.78, for a total transaction of $1,915,600.00. Following the completion of the sale, the senior vice president now owns 31,390 shares of the company’s stock, valued at $3,006,534.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 598,196 shares of company stock worth $58,835,804. Insiders own 0.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of TE Connectivity by 4.2% in the fourth quarter. BlackRock Inc. now owns 17,425,074 shares of the electronics maker’s stock valued at $1,656,081,000 after buying an additional 694,901 shares during the last quarter. Boston Partners increased its position in TE Connectivity by 2.6% during the fourth quarter. Boston Partners now owns 12,746,402 shares of the electronics maker’s stock worth $1,211,419,000 after purchasing an additional 318,066 shares during the last quarter. Janus Henderson Group PLC increased its position in TE Connectivity by 17.7% during the third quarter. Janus Henderson Group PLC now owns 8,247,518 shares of the electronics maker’s stock worth $685,033,000 after purchasing an additional 1,239,920 shares during the last quarter. Wells Fargo & Company MN increased its position in TE Connectivity by 8.7% during the fourth quarter. Wells Fargo & Company MN now owns 3,900,641 shares of the electronics maker’s stock worth $370,717,000 after purchasing an additional 313,244 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in TE Connectivity by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 3,605,770 shares of the electronics maker’s stock worth $341,957,000 after purchasing an additional 105,388 shares during the last quarter. Institutional investors and hedge funds own 89.58% of the company’s stock.
Shares of TE Connectivity (NYSE:TEL) traded up $0.30 during midday trading on Wednesday, reaching $99.09. 586,663 shares of the company were exchanged, compared to its average volume of 2,081,746. TE Connectivity has a 12-month low of $71.93 and a 12-month high of $108.23. The stock has a market capitalization of $34,710.00, a P/E ratio of 28.80, a PEG ratio of 1.65 and a beta of 1.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.58 and a quick ratio of 1.03.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, February 22nd. TE Connectivity’s payout ratio is 46.51%.
TE Connectivity declared that its board has initiated a stock buyback plan on Friday, December 8th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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