TE Connectivity (NYSE:TEL) Updates Q3 Earnings Guidance

TE Connectivity (NYSE:TELGet Rating) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of ~$1.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.82. The company issued revenue guidance of ~$3.9 billion, compared to the consensus revenue estimate of $3.97 billion.

Shares of NYSE:TEL opened at $124.78 on Friday. The stock has a market capitalization of $40.72 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.67 and a beta of 1.32. TE Connectivity has a one year low of $120.22 and a one year high of $166.44. The company has a 50-day simple moving average of $129.89 and a 200-day simple moving average of $145.77. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.47.

TE Connectivity (NYSE:TELGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The electronics maker reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.11. The firm had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.81 billion. TE Connectivity had a net margin of 16.14% and a return on equity of 22.10%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.57 earnings per share. As a group, research analysts forecast that TE Connectivity will post 7.16 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 3rd. Shareholders of record on Friday, February 17th will be given a dividend of $0.56 per share. The ex-dividend date is Thursday, February 16th. This represents a $2.24 annualized dividend and a yield of 1.80%. TE Connectivity’s payout ratio is currently 26.42%.

Several research analysts have weighed in on TEL shares. Morgan Stanley lowered their target price on shares of TE Connectivity from $167.00 to $151.00 and set an equal weight rating on the stock in a research report on Monday, April 25th. StockNews.com lowered shares of TE Connectivity from a buy rating to a hold rating in a research report on Thursday. Truist Financial lowered their target price on shares of TE Connectivity from $144.00 to $130.00 and set a hold rating on the stock in a research report on Friday, April 8th. The Goldman Sachs Group upped their target price on shares of TE Connectivity from $170.00 to $190.00 and gave the stock a buy rating in a research report on Monday, January 10th. Finally, JPMorgan Chase & Co. increased their price target on shares of TE Connectivity from $170.00 to $176.00 in a research report on Thursday, January 20th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Buy and a consensus target price of $167.20.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC boosted its position in TE Connectivity by 8.1% during the fourth quarter. Parametric Portfolio Associates LLC now owns 966,918 shares of the electronics maker’s stock worth $156,003,000 after acquiring an additional 72,652 shares during the last quarter. Barclays PLC boosted its position in TE Connectivity by 20.2% during the fourth quarter. Barclays PLC now owns 576,636 shares of the electronics maker’s stock worth $93,036,000 after acquiring an additional 97,092 shares during the last quarter. California State Teachers Retirement System raised its stake in TE Connectivity by 36.8% during the fourth quarter. California State Teachers Retirement System now owns 404,821 shares of the electronics maker’s stock worth $65,314,000 after purchasing an additional 109,004 shares during the period. Toroso Investments LLC raised its stake in TE Connectivity by 54.6% during the fourth quarter. Toroso Investments LLC now owns 14,320 shares of the electronics maker’s stock worth $2,310,000 after purchasing an additional 5,059 shares during the period. Finally, Vident Investment Advisory LLC raised its stake in TE Connectivity by 221.5% during the fourth quarter. Vident Investment Advisory LLC now owns 12,106 shares of the electronics maker’s stock worth $1,954,000 after purchasing an additional 8,341 shares during the period. Hedge funds and other institutional investors own 89.44% of the company’s stock.

About TE Connectivity (Get Rating)

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaÂ-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

See Also

Earnings History and Estimates for TE Connectivity (NYSE:TEL)

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