TE Connectivity (NYSE:TEL) Releases Q3 2024 Earnings Guidance

TE Connectivity (NYSE:TEL) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.850-1.850 for the period, compared to the consensus EPS estimate of 1.920. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $4.1 billion.

TE Connectivity Trading Down 0.4 %

Shares of TEL stock opened at $143.14 on Wednesday. The firm has a 50-day moving average price of $142.71 and a 200 day moving average price of $136.00. TE Connectivity has a twelve month low of $115.00 and a twelve month high of $147.98. The company has a market capitalization of $44.49 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 2.04 and a beta of 1.39. 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 posted its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, beating the consensus estimate of $1.71 by $0.13. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.53 EPS. Research analysts forecast that TE Connectivity will post 7.59 earnings per share for the current fiscal 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 issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s payout ratio is currently 22.39%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. StockNews.com initiated coverage on TE Connectivity in a report on Monday. They set a buy rating for the company. Truist Financial upped their price target on TE Connectivity from $148.00 to $153.00 and gave the stock a hold rating in a report on Thursday, January 25th. Stifel Nicolaus upped their price target on TE Connectivity from $140.00 to $145.00 and gave the stock a hold rating in a report on Thursday, January 25th. Citigroup initiated coverage on TE Connectivity in a report on Friday, January 5th. They issued a neutral rating and a $146.00 price target for the company. Finally, Robert W. Baird upped their price target on TE Connectivity from $147.00 to $155.00 and gave the stock an outperform 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 company’s stock. Based on data from MarketBeat.com, TE Connectivity has a consensus rating of Moderate Buy and a consensus target price of $153.30.

Insider Activity at TE Connectivity

In related news, insider Steven T. Merkt sold 99,777 shares of the company’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 sale, the insider now directly 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 is accessible through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

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.