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

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

Analyst Ratings Changes

A number of brokerages recently commented on TEL. StockNews.com began coverage on shares of TE Connectivity in a report on Monday. They issued a buy rating for the company. Stifel Nicolaus raised their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a hold rating in a research note on Thursday, January 25th. Citigroup started coverage on shares of TE Connectivity in a research note on Friday, January 5th. They issued a neutral rating and a $146.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of TE Connectivity from $169.00 to $170.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group reissued a buy rating on shares of TE Connectivity in a research note on Monday, April 1st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $153.30.

TE Connectivity Trading Down 0.4 %

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

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

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders 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 annualized dividend and a dividend yield of 1.82%. TE Connectivity’s dividend payout ratio is currently 22.39%.

Insider Transactions at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, 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 SEC, which can be accessed through this link. 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.