TE Connectivity (NYSE:TEL) Issues Q3 Earnings Guidance

TE Connectivity (NYSE:TEL) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.85 for the period, compared to the consensus EPS 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 Down 0.4 %

Shares of NYSE:TEL opened at $143.14 on Wednesday. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $147.98. The stock has a market cap of $44.49 billion, a PE ratio of 13.58, a P/E/G ratio of 2.04 and a beta of 1.39. The business has a 50 day moving average of $142.71 and a 200-day moving average of $136.00. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.53 earnings per share. As a group, equities research analysts forecast that TE Connectivity will post 7.59 earnings per share for the current year.

TE Connectivity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.65 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.82%. TE Connectivity’s dividend payout ratio (DPR) is 22.39%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TEL shares. Truist Financial raised their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a hold rating in a research note on Thursday, January 25th. Robert W. Baird raised their price target on shares of TE Connectivity from $147.00 to $155.00 and gave the company an outperform rating in a report on Thursday, January 25th. 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 report on Thursday, January 25th. Citigroup started coverage on shares of TE Connectivity in a report on Friday, January 5th. They set a neutral rating and a $146.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on shares of TE Connectivity from $169.00 to $170.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $153.30.

Insider Activity

In other news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the sale, the insider now owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.