TE Connectivity (NYSE:TEL) Releases 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 (EPS) guidance of 1.850-1.850 for the period, compared to the consensus 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 Performance

Shares of NYSE TEL opened at $140.21 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.45. The firm has a market cap of $43.58 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 2.06 and a beta of 1.39. The business’s 50-day simple moving average is $142.55 and its 200-day simple moving average is $136.17. TE Connectivity has a 52 week low of $115.00 and a 52 week high of $147.98.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, equities research analysts expect that TE Connectivity will post 7.56 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.85%. TE Connectivity’s payout ratio is 21.59%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on TE Connectivity from $170.00 to $169.00 and set a neutral rating for the company in a research note on Thursday. StockNews.com began coverage on TE Connectivity in a research note on Monday, April 22nd. They set a buy rating for the company. Jefferies Financial Group began coverage on TE Connectivity in a research report on Tuesday, April 9th. They issued a buy rating and a $180.00 price objective for the company. The Goldman Sachs Group reiterated a buy rating on shares of TE Connectivity in a research report on Monday, April 1st. Finally, Stifel Nicolaus raised their price objective on TE Connectivity from $140.00 to $145.00 and gave the stock a hold rating in a research report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity has an average rating of Moderate Buy and a consensus target price of $153.50.

Insider Buying and Selling

In related news, insider Steven T. Merkt sold 99,777 shares of the firm’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 transaction of $14,367,888.00. Following the completion of the transaction, the insider now owns 30,459 shares in the company, valued at approximately $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.86% of the stock is owned by corporate insiders.

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.