Zacks: Analysts Expect TE Connectivity Ltd. (NYSE:TEL) Will Post Quarterly Sales of $3.71 Billion

Equities analysts expect that TE Connectivity Ltd. (NYSE:TEL) will post $3.71 billion in sales for the current quarter, according to Zacks. Five analysts have provided estimates for TE Connectivity’s earnings. The highest sales estimate is $3.74 billion and the lowest is $3.70 billion. TE Connectivity reported sales of $3.52 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 5.4%. The firm is scheduled to issue its next earnings report on Wednesday, January 26th.

On average, analysts expect that TE Connectivity will report full-year sales of $15.73 billion for the current financial year, with estimates ranging from $15.52 billion to $15.96 billion. For the next fiscal year, analysts expect that the firm will report sales of $16.87 billion, with estimates ranging from $16.43 billion to $17.53 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for TE Connectivity.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 27th. The electronics maker reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.05. The company had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.77 billion. TE Connectivity had a return on equity of 21.58% and a net margin of 15.15%. TE Connectivity’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 earnings per share.

Several analysts have weighed in on the company. Evercore ISI upgraded TE Connectivity from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $160.00 to $180.00 in a research report on Wednesday, October 20th. Truist Securities upped their target price on TE Connectivity from $139.00 to $149.00 and gave the company a “hold” rating in a report on Thursday, July 29th. Truist upped their target price on TE Connectivity from $139.00 to $149.00 and gave the company a “hold” rating in a report on Thursday, July 29th. Royal Bank of Canada upped their target price on TE Connectivity from $160.00 to $166.00 and gave the company an “outperform” rating in a report on Thursday, July 29th. Finally, Zacks Investment Research cut TE Connectivity from a “buy” rating to a “hold” rating and set a $161.00 price target on the stock. in a research note on Tuesday, August 17th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $155.47.

In other news, SVP Robert J. Ott sold 8,737 shares of the company’s stock in a transaction on Wednesday, November 3rd. The stock was sold at an average price of $153.46, for a total transaction of $1,340,780.02. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

A number of hedge funds have recently bought and sold shares of TEL. Vanguard Group Inc. raised its stake in shares of TE Connectivity by 0.3% in the second quarter. Vanguard Group Inc. now owns 27,358,318 shares of the electronics maker’s stock worth $3,699,118,000 after buying an additional 84,230 shares during the period. Capital World Investors raised its stake in shares of TE Connectivity by 6.4% in the third quarter. Capital World Investors now owns 17,654,737 shares of the electronics maker’s stock worth $2,422,583,000 after buying an additional 1,061,854 shares during the period. Bank of America Corp DE raised its stake in shares of TE Connectivity by 14.3% in the second quarter. Bank of America Corp DE now owns 4,954,983 shares of the electronics maker’s stock worth $669,965,000 after buying an additional 619,188 shares during the period. Geode Capital Management LLC raised its stake in shares of TE Connectivity by 0.7% in the third quarter. Geode Capital Management LLC now owns 4,733,221 shares of the electronics maker’s stock worth $647,382,000 after buying an additional 32,334 shares during the period. Finally, Boston Partners raised its stake in shares of TE Connectivity by 4.0% in the third quarter. Boston Partners now owns 3,574,350 shares of the electronics maker’s stock worth $490,553,000 after buying an additional 136,105 shares during the period. 89.60% of the stock is currently owned by institutional investors.

NYSE:TEL traded down $0.39 during mid-day trading on Thursday, reaching $160.36. The stock had a trading volume of 1,678,369 shares, compared to its average volume of 1,574,983. The firm has a 50 day moving average price of $150.15 and a two-hundred day moving average price of $144.01. The stock has a market capitalization of $52.33 billion, a P/E ratio of 23.62, a P/E/G ratio of 2.24 and a beta of 1.36. TE Connectivity has a one year low of $113.00 and a one year high of $166.44. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.02 and a current ratio of 1.56.

About TE Connectivity

TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.

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