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

TE Connectivity (NYSE:TEL) updated its third quarter 2024 earnings guidance on Wednesday. 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 also updated its Q3 guidance to $1.85 EPS.

Analyst Ratings Changes

Several analysts recently weighed in on TEL shares. Citigroup initiated coverage on shares of TE Connectivity in a report on Friday, January 5th. They issued a neutral rating and a $146.00 target price for the company. Stifel Nicolaus boosted their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a hold rating in a research report on Thursday, January 25th. Robert W. Baird boosted their price target on shares of TE Connectivity from $147.00 to $155.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Truist Financial upped their price target 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 reissued a buy rating on shares of TE Connectivity in a research note on Monday, April 1st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $153.30.

TE Connectivity Stock Down 2.3 %

NYSE TEL opened at $140.00 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average is $142.65 and its two-hundred day moving average is $136.02. The company has a market capitalization of $43.51 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 2.04 and a beta of 1.39. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $147.98.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, topping the consensus estimate of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the previous year, the business earned $1.53 EPS. TE Connectivity’s revenue was down .3% compared to the same quarter last year. Equities analysts forecast that TE Connectivity will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

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

Insider Buying and Selling at TE Connectivity

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