TE Connectivity (NYSE:TEL) Posts Earnings Results, Beats Expectations By $0.03 EPS

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

TE Connectivity Stock Down 0.1 %

NYSE TEL traded down $0.12 on Thursday, hitting $139.88. 1,684,164 shares of the stock were exchanged, compared to its average volume of 2,194,594. 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 has a fifty-two week low of $115.00 and a fifty-two week high of $147.98. The company has a market cap of $43.47 billion, a PE ratio of 13.18, a PEG ratio of 2.04 and a beta of 1.39. The company has a 50-day moving average price of $142.65 and a 200-day moving average price of $136.02.

TE Connectivity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is currently 22.39%.

Analysts Set New Price Targets

Several analysts recently commented on TEL shares. Jefferies Financial Group started coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target on the stock. Stifel Nicolaus raised their price target 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. 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 target price on the stock. StockNews.com started coverage on shares of TE Connectivity in a research report on Monday. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $153.60.

Insiders Place Their Bets

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, 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 is available at this hyperlink. 0.86% of the stock is currently owned by company insiders.

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.