TE Connectivity (NYSE:TEL) Announces Earnings Results, Beats Estimates By $0.03 EPS

TE Connectivity (NYSE:TEL) posted its earnings results on Wednesday. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03, Briefing.com reports. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. TE Connectivity’s revenue was down 4.6% compared to the same quarter last year. During the same period last year, the business posted $1.65 EPS. TE Connectivity updated its Q3 2024 guidance to 1.850-1.850 EPS and its Q3 guidance to $1.85 EPS.

TE Connectivity Trading Down 0.1 %

Shares of NYSE:TEL traded down $0.12 during trading on Thursday, hitting $139.88. 1,684,164 shares of the company’s stock were exchanged, compared to its average volume of 2,194,594. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $147.98. The firm has a 50-day moving average price of $142.65 and a two-hundred day moving average price of $136.02. 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 firm has a market cap of $43.47 billion, a P/E ratio of 13.18, a PEG ratio of 2.04 and a beta of 1.39.

TE Connectivity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders 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 dividend payout ratio is 22.39%.

Insider Transactions at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction that occurred 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 SEC, which can be accessed through this link. 0.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on TEL. Robert W. Baird reduced their price objective on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of TE Connectivity from $169.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Truist Financial raised their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. StockNews.com started coverage on shares of TE Connectivity in a report on Monday. They set a “buy” rating for the company. Finally, Citigroup started coverage on shares of TE Connectivity in a report on Friday, January 5th. They set a “neutral” rating and a $146.00 price target for the company. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $153.60.

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.