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

Several equities analysts recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They set a buy rating and a $180.00 price objective on the stock. Citigroup initiated coverage on shares of TE Connectivity in a research report on Friday, January 5th. They issued a neutral rating and a $146.00 price target on the stock. Truist Financial lifted their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the company a hold rating in a research report on Thursday, January 25th. Stifel Nicolaus lifted their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the company a hold rating in a research report on Thursday, January 25th. Finally, Robert W. Baird dropped their price target on shares of TE Connectivity from $159.00 to $158.00 and set an outperform rating on the stock in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $153.50.

TE Connectivity Trading Down 0.2 %

Shares of TEL stock opened at $140.21 on Friday. TE Connectivity has a 1 year low of $115.00 and a 1 year high of $147.98. The firm’s fifty day simple moving average is $142.55 and its 200 day simple moving average is $136.17. The firm has a market capitalization of $43.58 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. The company has a current ratio of 1.45, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year. As a group, sell-side analysts predict that TE Connectivity will post 7.56 EPS for the current year.

TE Connectivity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.85%. TE Connectivity’s dividend payout ratio is currently 21.59%.

Insiders Place Their Bets

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction 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 sale, the insider now owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.86% of the company’s stock.

TE Connectivity Company Profile

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.