TE Connectivity Ltd. (NYSE:TEL) Updates FY17 Earnings Guidance
TE Connectivity Ltd. (NYSE:TEL) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.72-4.74 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.65. The company issued revenue guidance of $12.85-12.95 billion ($12.6-12.8 billion), compared to the consensus revenue estimate of $12.78 billion.TE Connectivity also updated its Q4 guidance to $1.14-1.16 EPS.
Several brokerages recently commented on TEL. Morgan Stanley boosted their price target on shares of TE Connectivity from $85.00 to $87.00 and gave the stock an overweight rating in a report on Friday, April 28th. Royal Bank Of Canada reissued an outperform rating and issued a $86.00 price target on shares of TE Connectivity in a report on Tuesday, June 6th. Zacks Investment Research lowered shares of TE Connectivity from a buy rating to a hold rating in a report on Tuesday, June 20th. Cowen and Company reissued an outperform rating and issued a $95.00 price target (up previously from $90.00) on shares of TE Connectivity in a report on Monday, June 5th. Finally, BidaskClub lowered shares of TE Connectivity from a strong-buy rating to a buy rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $83.43.
Shares of TE Connectivity Ltd. (TEL) opened at 80.57 on Friday. The firm’s 50-day moving average is $79.86 and its 200 day moving average is $75.98. TE Connectivity Ltd. has a 52 week low of $57.85 and a 52 week high of $85.20. The firm has a market cap of $28.60 billion, a PE ratio of 13.84 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a return on equity of 19.63% and a net margin of 12.98%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. Equities research analysts forecast that TE Connectivity Ltd. will post $4.73 EPS for the current year.
In other TE Connectivity news, insider Thomas J. Lynch sold 131,875 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $79.58, for a total value of $10,494,612.50. Following the sale, the insider now directly owns 450,694 shares of the company’s stock, valued at approximately $35,866,228.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas J. Lynch sold 186,034 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $78.65, for a total value of $14,631,574.10. Following the completion of the sale, the insider now directly owns 504,885 shares in the company, valued at $39,709,205.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 514,184 shares of company stock valued at $40,256,534. 1.30% of the stock is currently owned by company insiders.
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About TE Connectivity
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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