TE Connectivity (NYSE:TEL) Releases Q3 Earnings Guidance

TE Connectivity (NYSE:TEL) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.85 for the period, compared to the consensus earnings per share 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 Trading Up 0.0 %

Shares of TEL traded up $0.01 during mid-day trading on Friday, hitting $140.49. The company had a trading volume of 1,073,746 shares, compared to its average volume of 2,199,114. The business’s 50-day simple moving average is $142.59 and its 200-day simple moving average is $136.06. The company has a quick ratio of 1.16, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. TE Connectivity has a 1-year low of $115.00 and a 1-year high of $147.98. The stock has a market cap of $43.66 billion, a PE ratio of 12.85, a P/E/G ratio of 1.99 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. Sell-side analysts forecast that TE Connectivity will post 7.59 earnings per share for the current year.

TE Connectivity Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. The Goldman Sachs Group restated a buy rating on shares of TE Connectivity in a report on Monday, April 1st. Truist Financial raised their target price on TE Connectivity from $148.00 to $153.00 and gave the stock a hold rating in a report on Thursday, January 25th. Citigroup started coverage on TE Connectivity in a research report on Friday, January 5th. They set a neutral rating and a $146.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on TE Connectivity from $170.00 to $169.00 and set a neutral rating on the stock in a research report on Thursday. Finally, 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 target price on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $153.50.

Insider Activity

In related news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.86% of the company’s stock.

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.