TE Connectivity (NYSE:TEL) Issues Q3 2024 Earnings Guidance

TE Connectivity (NYSE:TEL) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.850-1.850 for the period, compared to the consensus earnings per share estimate of 1.920. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $4.1 billion. TE Connectivity also updated its Q3 guidance to $1.85 EPS.

TE Connectivity Stock Down 2.3 %

NYSE TEL opened at $140.00 on Thursday. The business has a fifty day moving average price of $142.65 and a two-hundred day moving average price of $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 fifty-two week low of $115.00 and a fifty-two week high of $147.98. The stock has a market capitalization of $43.51 billion, a PE ratio of 13.28, a PEG ratio of 2.04 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the prior year, the company earned $1.53 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. Equities analysts expect that TE Connectivity will post 7.59 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s payout ratio is 22.39%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TEL. Truist Financial increased their price objective on TE Connectivity from $148.00 to $153.00 and gave the company a hold rating in a report on Thursday, January 25th. Jefferies Financial Group began coverage on TE Connectivity in a report on Tuesday, April 9th. They set a buy rating and a $180.00 price target for the company. Robert W. Baird increased their price target on TE Connectivity from $147.00 to $155.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Citigroup began coverage on TE Connectivity in a report on Friday, January 5th. They set a neutral rating and a $146.00 price target for the company. Finally, The Goldman Sachs Group reiterated a buy rating on shares of TE Connectivity in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity currently has a consensus rating of Moderate Buy and a consensus target price of $153.30.

Insider Activity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $144.00, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at 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.