TE Connectivity (NYSE:TEL) Updates Q3 Earnings Guidance

TE Connectivity (NYSE:TEL) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.85 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TEL. JPMorgan Chase & Co. lowered their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a neutral rating for the company in a research note on Thursday. The Goldman Sachs Group reaffirmed a buy rating on shares of TE Connectivity in a research note on Monday, April 1st. Truist Financial increased their target price on TE Connectivity from $148.00 to $153.00 and gave the company a hold rating in a research report on Thursday, January 25th. Jefferies Financial Group began coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a buy rating and a $180.00 target price on the stock. Finally, StockNews.com initiated coverage on TE Connectivity in a report on Monday. They issued a buy rating on the stock. Five research 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, the stock currently has a consensus rating of Moderate Buy and an average price target of $153.50.

TE Connectivity Price Performance

Shares of TEL stock traded up $0.01 during trading on Friday, hitting $140.49. The company had a trading volume of 1,073,746 shares, compared to its average volume of 2,199,114. The stock’s 50-day moving average price is $142.59 and its 200 day moving average price is $136.06. The firm has a market capitalization of $43.66 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.99 and a beta of 1.39. TE Connectivity has a one year low of $115.00 and a one year high of $147.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.45.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year. Equities analysts expect that TE Connectivity will post 7.59 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 1.85%. TE Connectivity’s dividend payout ratio (DPR) is 21.59%.

Insiders Place Their Bets

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