TE Connectivity (NYSE:TEL) Releases Earnings Results

TE Connectivity (NYSE:TEL) announced its earnings results on Wednesday. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03, Briefing.com reports. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. TE Connectivity’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $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 Down 0.3 %

TEL stock traded down $0.37 during midday trading on Thursday, hitting $139.63. 1,635,341 shares of the company’s stock were exchanged, compared to its average volume of 2,194,147. TE Connectivity has a one year low of $115.00 and a one year high of $147.98. The stock’s fifty day moving average price is $142.65 and its 200-day moving average price is $136.02. The company has a market cap of $43.40 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.86.

TE Connectivity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is currently 22.39%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TEL shares. Robert W. Baird cut their price target on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday. Jefferies Financial Group assumed coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price on the stock. Citigroup started coverage on shares of TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 price target for the company. Truist Financial increased their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $153.60.

Insiders Place Their Bets

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction dated 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 sale, the insider now owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.