TE Connectivity (NYSE:TEL) Releases Q3 Earnings Guidance

TE Connectivity (NYSE:TEL) issued an update on its third quarter earnings guidance on Wednesday morning. 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.

TE Connectivity Price Performance

Shares of NYSE TEL traded down $3.23 during mid-day trading on Wednesday, reaching $140.00. The company had a trading volume of 5,767,071 shares, compared to its average volume of 2,201,586. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.86. TE Connectivity has a one year low of $115.00 and a one year high of $147.98. The firm has a market cap of $43.51 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 2.04 and a beta of 1.39. The business’s 50-day simple moving average is $142.71 and its 200 day simple moving average is $136.00.

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

TE Connectivity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given 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 is Friday, February 21st. TE Connectivity’s payout ratio is currently 24.67%.

Analysts Set New Price Targets

TEL has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on TE Connectivity in a research report on Monday. They issued a buy rating on the stock. The Goldman Sachs Group reiterated a buy rating on shares of TE Connectivity in a research report on Monday, April 1st. Citigroup assumed coverage on TE Connectivity in a report on Friday, January 5th. They set a neutral rating and a $146.00 price target on the stock. 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. Finally, JPMorgan Chase & Co. boosted their price target on TE Connectivity from $169.00 to $170.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $153.30.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the business’s 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 directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.86% of the company’s stock.

About TE Connectivity

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.