$3.11 Billion in Sales Expected for TE Connectivity Ltd (NYSE:TEL) This Quarter

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Brokerages predict that TE Connectivity Ltd (NYSE:TEL) will post sales of $3.11 billion for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for TE Connectivity’s earnings. The highest sales estimate is $3.14 billion and the lowest is $3.08 billion. TE Connectivity reported sales of $3.35 billion in the same quarter last year, which would suggest a negative year over year growth rate of 7.2%. The business is expected to report its next quarterly earnings report on Wednesday, January 22nd.

On average, analysts expect that TE Connectivity will report full year sales of $13.00 billion for the current year, with estimates ranging from $12.97 billion to $13.04 billion. For the next fiscal year, analysts anticipate that the business will report sales of $13.67 billion, with estimates ranging from $13.41 billion to $14.05 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover TE Connectivity.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. TE Connectivity had a net margin of 13.71% and a return on equity of 18.20%. The business had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the previous year, the firm posted $1.35 EPS. The firm’s revenue was down 6.0% on a year-over-year basis.

A number of research firms have commented on TEL. Morgan Stanley downgraded shares of TE Connectivity from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $98.00 to $95.00 in a research report on Monday, September 23rd. ValuEngine raised shares of TE Connectivity from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Citigroup downgraded shares of TE Connectivity from a “buy” rating to a “neutral” rating and cut their target price for the stock from $105.00 to $95.00 in a research report on Wednesday, October 9th. Zacks Investment Research cut shares of TE Connectivity from a “hold” rating to a “sell” rating and set a $97.00 price target on the stock. in a research note on Monday, October 21st. Finally, Wolfe Research initiated coverage on shares of TE Connectivity in a research note on Tuesday, October 8th. They set a “market perform” rating and a $91.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $93.07.

NYSE:TEL opened at $92.71 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. TE Connectivity has a 12 month low of $69.84 and a 12 month high of $97.99. The company has a market cap of $31.38 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.71 and a beta of 1.15. The company has a 50 day simple moving average of $92.58 and a two-hundred day simple moving average of $91.65.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, November 21st. TE Connectivity’s payout ratio is currently 33.15%.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in TE Connectivity by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 25,331,319 shares of the electronics maker’s stock worth $2,426,234,000 after purchasing an additional 86,271 shares in the last quarter. BlackRock Inc. lifted its stake in TE Connectivity by 4.3% in the 2nd quarter. BlackRock Inc. now owns 16,809,367 shares of the electronics maker’s stock worth $1,610,001,000 after purchasing an additional 698,506 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in TE Connectivity by 7.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,659,858 shares of the electronics maker’s stock worth $1,404,121,000 after purchasing an additional 953,793 shares in the last quarter. State Street Corp lifted its stake in TE Connectivity by 0.9% in the 3rd quarter. State Street Corp now owns 12,623,826 shares of the electronics maker’s stock worth $1,176,288,000 after purchasing an additional 118,481 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its stake in TE Connectivity by 3.9% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 8,214,811 shares of the electronics maker’s stock worth $786,815,000 after purchasing an additional 310,824 shares in the last quarter. Institutional investors and hedge funds own 90.50% of the company’s stock.

About TE Connectivity

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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