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

TE Connectivity (NYSE:TEL) updated its third quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.850-1.850 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TEL. Truist Financial increased their target price on TE Connectivity from $148.00 to $153.00 and gave the stock a hold rating in a research note on Thursday, January 25th. StockNews.com began coverage on TE Connectivity in a research note on Monday. They set a buy rating on the stock. Robert W. Baird increased their target price on TE Connectivity from $147.00 to $155.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Jefferies Financial Group initiated coverage on TE Connectivity in a report on Tuesday, April 9th. They set a buy rating and a $180.00 price target on the stock. Finally, The Goldman Sachs Group restated 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. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $153.30.

TE Connectivity Stock Down 2.0 %

Shares of TEL traded down $2.92 during mid-day trading on Wednesday, reaching $140.31. The company’s stock had a trading volume of 4,454,850 shares, compared to its average volume of 2,182,950. The company’s 50 day moving average is $142.71 and its 200 day moving average is $136.00. The stock has a market cap of $43.61 billion, a PE ratio of 13.30, a price-to-earnings-growth 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 12-month low of $115.00 and a 12-month high of $147.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.13. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.87 billion. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $1.53 EPS. Equities analysts anticipate that TE Connectivity will post 7.59 EPS 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. 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 dividend on an annualized basis and a yield of 1.85%. TE Connectivity’s dividend payout ratio is presently 24.67%.

Insider Buying and Selling

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 transaction of $14,367,888.00. Following the completion of the sale, the insider now directly owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.86% of the stock is currently owned by company 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.