TE Connectivity (NYSE:TEL) Issues Earnings Results

TE Connectivity (NYSE:TEL) released its earnings results on Wednesday. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03, Briefing.com reports. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the business earned $1.65 EPS. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. TE Connectivity updated its Q3 2024 guidance to 1.850-1.850 EPS and its Q3 guidance to $1.85 EPS.

TE Connectivity Stock Performance

TE Connectivity stock traded down $0.37 during midday trading on Thursday, hitting $139.63. 1,635,341 shares of the company’s stock were exchanged, compared to its average volume of 2,194,147. 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 $43.40 billion, a price-to-earnings ratio of 13.18, 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 quick ratio of 1.16 and a current ratio of 1.86. The firm’s 50 day simple moving average is $142.65 and its 200 day simple moving average is $136.02.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.86%. The ex-dividend date is Friday, February 21st. TE Connectivity’s payout ratio is currently 22.39%.

Insider Transactions at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 30,459 shares in the company, valued at approximately $4,386,096. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TEL. Stifel Nicolaus increased their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. StockNews.com began coverage on shares of TE Connectivity in a research report on Monday. They issued a “buy” rating on the stock. JPMorgan Chase & Co. increased their price objective on shares of TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Finally, Citigroup started coverage on shares of TE Connectivity in a research report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and an average price target of $153.60.

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.