TE Connectivity (NYSE:TEL) Posts Earnings Results, Beats Expectations By $0.03 EPS

TE Connectivity (NYSE:TEL) issued its quarterly earnings data on Wednesday. The electronics maker reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.03, Briefing.com reports. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. TE Connectivity updated its Q3 2024 guidance to 1.850-1.850 EPS and its Q3 guidance to $1.85 EPS.

TE Connectivity Price Performance

Shares of TEL stock traded up $0.57 during midday trading on Friday, reaching $141.05. 443,950 shares of the company traded hands, compared to its average volume of 2,191,042. The firm has a market cap of $43.84 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.99 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 1.16. The firm’s 50 day simple moving average is $142.59 and its two-hundred day simple moving average is $136.06. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $147.98.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a $0.65 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.84%. TE Connectivity’s dividend payout ratio (DPR) is presently 21.59%.

Insiders Place Their Bets

In other news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction 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 of the company’s stock, valued at approximately $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. StockNews.com began coverage on TE Connectivity in a research note on Monday. They issued a “buy” rating on the stock. Jefferies Financial Group started coverage on TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Finally, Citigroup initiated coverage on TE Connectivity in a report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price objective for the company. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $153.50.

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.