TE Connectivity (TEL) Issues Q3 Earnings Guidance

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TE Connectivity (NYSE:TEL) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.41-1.45 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.41. The company issued revenue guidance of $3.4-3.5 billion, compared to the consensus revenue estimate of $3.49 billion.TE Connectivity also updated its FY 2019 guidance to $5.55-5.65 EPS.

Shares of TEL traded down $0.31 during trading hours on Thursday, reaching $95.52. 132,276 shares of the company traded hands, compared to its average volume of 1,275,793. The company has a quick ratio of 0.98, a current ratio of 1.55 and a debt-to-equity ratio of 0.33. The firm has a market cap of $30.43 billion, a P/E ratio of 17.02, a PEG ratio of 1.54 and a beta of 1.03. TE Connectivity has a fifty-two week low of $69.84 and a fifty-two week high of $99.52.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.15. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.36 billion. TE Connectivity had a return on equity of 19.22% and a net margin of 20.06%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 earnings per share. As a group, equities analysts expect that TE Connectivity will post 5.44 EPS for the current fiscal year.

TEL has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed a buy rating and set a $92.00 price objective on shares of TE Connectivity in a research note on Sunday, January 6th. Zacks Investment Research raised TE Connectivity from a sell rating to a hold rating in a research note on Wednesday, January 30th. Robert W. Baird reissued a hold rating and issued a $79.00 price target on shares of TE Connectivity in a research note on Sunday, January 6th. Finally, ValuEngine raised TE Connectivity from a sell rating to a hold rating in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $94.14.

In other news, CFO Heath A. Mitts sold 12,908 shares of TE Connectivity stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $83.05, for a total value of $1,072,009.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Eric Resch sold 34,050 shares of TE Connectivity stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $82.70, for a total value of $2,815,935.00. Following the completion of the transaction, the senior vice president now directly owns 68,790 shares in the company, valued at $5,688,933. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

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TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia?Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Earnings History and Estimates for TE Connectivity (NYSE:TEL)

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