TE Connectivity (NYSE:TEL) Issues Q4 Earnings Guidance

TE Connectivity (NYSE:TEL) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $1.94 for the period, compared to the consensus EPS estimate of $1.93. The company issued revenue guidance of $4.0 billion, compared to the consensus revenue estimate of $4.11 billion. TE Connectivity also updated its Q4 2024 guidance to 1.940-1.940 EPS.

TE Connectivity Stock Performance

Shares of NYSE TEL traded up $2.32 during trading hours on Friday, hitting $156.86. 493,332 shares of the company’s stock were exchanged, compared to its average volume of 1,964,005. The stock has a market capitalization of $48.04 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 2.14 and a beta of 1.33. The company’s 50-day moving average price is $151.13 and its 200-day moving average price is $144.95. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.92. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the business posted $1.77 EPS. On average, sell-side analysts expect that TE Connectivity will post 7.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TEL has been the subject of a number of recent research reports. Jefferies Financial Group assumed coverage on TE Connectivity in a research note on Tuesday, April 9th. They issued a buy rating and a $180.00 target price for the company. Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an outperform rating in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on shares of TE Connectivity from $170.00 to $169.00 and set a neutral rating for the company in a research report on Thursday, April 25th. Hsbc Global Res upgraded shares of TE Connectivity to a hold rating in a research note on Wednesday. Finally, Wells Fargo & Company dropped their target price on TE Connectivity from $152.00 to $150.00 and set an equal weight rating for the company in a report on Tuesday, June 25th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, TE Connectivity presently has a consensus rating of Hold and a consensus target price of $158.45.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the transaction, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Trudeau sold 7,044 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the sale, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The disclosure for this sale can be found here. Insiders sold a total of 20,794 shares of company stock valued at $3,102,206 over the last quarter. Corporate insiders own 0.86% of the company’s stock.

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.