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

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

TE Connectivity Stock Performance

Shares of TEL stock traded down $1.17 on Thursday, hitting $138.83. 987,098 shares of the stock traded hands, compared to its average volume of 2,186,095. The company has a market capitalization of $43.15 billion, a PE ratio of 13.18, a PEG ratio of 2.04 and a beta of 1.39. The company’s fifty day moving average is $142.65 and its 200 day moving average is $136.02. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $147.98.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.87%. TE Connectivity’s payout ratio is 22.39%.

Insider Buying and Selling at TE Connectivity

In related news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the transaction, the insider now directly owns 30,459 shares in the company, valued at approximately $4,386,096. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.86% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup initiated coverage on TE Connectivity in a report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price objective for the company. Robert W. Baird lowered their target price 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. Stifel Nicolaus boosted their price target on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Finally, StockNews.com began coverage on shares of TE Connectivity in a research note on Monday. They set a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and an average price target of $153.60.

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.