TE Connectivity (NYSE:TEL) Updates Q3 Earnings Guidance

TE Connectivity (NYSE:TEL) updated its third quarter earnings guidance on Wednesday. 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.

Analysts Set New Price Targets

TEL has been the subject of several analyst reports. Citigroup assumed coverage on TE Connectivity in a research note on Friday, January 5th. They set a neutral rating and a $146.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of TE Connectivity from $169.00 to $170.00 and gave the company a neutral rating in a report on Thursday, April 11th. StockNews.com started coverage on TE Connectivity in a research report on Monday. They issued a buy rating on the stock. Robert W. Baird reduced 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. Finally, Truist Financial boosted their price target on TE Connectivity from $148.00 to $153.00 and gave the company a hold rating in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $153.60.

TE Connectivity Stock Down 0.9 %

NYSE TEL traded down $1.29 on Thursday, reaching $138.71. The company had a trading volume of 868,433 shares, compared to its average volume of 2,183,794. The company’s fifty day moving average is $142.65 and its 200-day moving average is $136.02. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $147.98. The firm has a market capitalization of $43.11 billion, a price-to-earnings 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 (NYSE:TEL) last released its 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. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same period last year, the business earned $1.65 earnings per share. On average, research analysts forecast that TE Connectivity will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio is 22.39%.

Insiders Place Their Bets

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction on 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 sale was disclosed in a document filed with the SEC, which is available at 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.