TE Connectivity (NYSE:TEL) Releases Q3 Earnings Guidance

TE Connectivity (NYSE:TEL) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.85 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TEL shares. StockNews.com began coverage on shares of TE Connectivity in a research note on Monday. They issued a buy rating on the stock. Truist Financial upped their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a hold rating in a research report on Thursday, January 25th. Citigroup started coverage on TE Connectivity in a report on Friday, January 5th. They set a neutral rating and a $146.00 target price for the company. Jefferies Financial Group assumed coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They issued a buy rating and a $180.00 price target on the stock. Finally, Robert W. Baird cut 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 note on Thursday. 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, TE Connectivity presently has an average rating of Moderate Buy and a consensus target price of $153.60.

TE Connectivity Price Performance

TEL traded down $1.29 during trading on Thursday, reaching $138.71. 868,433 shares of the stock were exchanged, compared to its average volume of 2,183,794. The company has a market capitalization of $43.11 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 2.04 and a beta of 1.39. 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. The business’s 50 day moving average price is $142.65 and its two-hundred day moving average price is $136.02.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the company earned $1.65 earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. As a group, equities research analysts anticipate that TE Connectivity will post 7.59 earnings per share for the current year.

TE Connectivity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio is presently 22.39%.

Insider Activity

In related 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 transaction, 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 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.