TE Connectivity Ltd. (NYSE:TEL) Expected to Post Quarterly Sales of $3.81 Billion

Equities analysts predict that TE Connectivity Ltd. (NYSE:TEL) will report sales of $3.81 billion for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for TE Connectivity’s earnings, with the lowest sales estimate coming in at $3.80 billion and the highest estimate coming in at $3.82 billion. TE Connectivity posted sales of $3.26 billion in the same quarter last year, which suggests a positive year over year growth rate of 16.9%. The firm is expected to report its next earnings results before the market opens on Wednesday, October 27th.

According to Zacks, analysts expect that TE Connectivity will report full-year sales of $14.91 billion for the current fiscal year, with estimates ranging from $14.90 billion to $14.92 billion. For the next year, analysts forecast that the business will post sales of $15.72 billion, with estimates ranging from $15.49 billion to $16.01 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for TE Connectivity.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 28th. The electronics maker reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.21. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.73 billion. TE Connectivity had a return on equity of 20.47% and a net margin of 11.81%.

A number of equities analysts have issued reports on the company. Truist Securities increased their price target on TE Connectivity from $139.00 to $149.00 and gave the company a “hold” rating in a research note on Thursday, July 29th. Robert W. Baird raised their price objective on TE Connectivity from $145.00 to $158.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. Truist raised their price objective on TE Connectivity from $139.00 to $149.00 and gave the stock a “hold” rating in a research note on Thursday, July 29th. Jefferies Financial Group assumed coverage on TE Connectivity in a research note on Thursday, July 29th. They set a “buy” rating and a $170.00 price objective for the company. Finally, Zacks Investment Research lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $161.00 price objective for the company. in a research note on Tuesday, August 17th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $150.08.

In other TE Connectivity news, Director Daniel J. Phelan bought 231 shares of TE Connectivity stock in a transaction dated Tuesday, August 10th. The stock was bought at an average price of $150.25 per share, for a total transaction of $34,707.75. Following the completion of the acquisition, the director now directly owns 34,151 shares of the company’s stock, valued at $5,131,187.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Lynch sold 100,000 shares of the stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $148.31, for a total value of $14,831,000.00. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its stake in shares of TE Connectivity by 21.5% in the first quarter. Ameriprise Financial Inc. now owns 10,614,548 shares of the electronics maker’s stock valued at $1,370,557,000 after acquiring an additional 1,875,492 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of TE Connectivity by 12,593.8% in the 2nd quarter. Macquarie Group Ltd. now owns 1,563,871 shares of the electronics maker’s stock valued at $211,452,000 after buying an additional 1,551,551 shares during the period. Prospera Financial Services Inc acquired a new position in shares of TE Connectivity in the 2nd quarter valued at $540,000. Bank of New York Mellon Corp grew its holdings in shares of TE Connectivity by 40.0% in the 1st quarter. Bank of New York Mellon Corp now owns 4,530,148 shares of the electronics maker’s stock valued at $584,887,000 after buying an additional 1,295,104 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in TE Connectivity by 13.0% in the 1st quarter. Clearbridge Investments LLC now owns 11,108,776 shares of the electronics maker’s stock worth $1,434,254,000 after purchasing an additional 1,275,052 shares during the period. 89.51% of the stock is currently owned by institutional investors.

NYSE TEL traded up $4.62 on Monday, reaching $146.04. 28,735 shares of the stock traded hands, compared to its average volume of 1,574,555. The firm’s fifty day simple moving average is $146.59 and its 200 day simple moving average is $139.21. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.36. The company has a market cap of $47.90 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 2.15 and a beta of 1.36. TE Connectivity has a 12 month low of $94.16 and a 12 month high of $153.54.

TE Connectivity Company Profile

TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.

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

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