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

TE Connectivity (NYSE:TEL) updated its third quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.850-1.850 for the period, compared to the consensus EPS 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. TE Connectivity also updated its Q3 guidance to $1.85 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group reaffirmed a buy rating on shares of TE Connectivity in a report on Monday, April 1st. Jefferies Financial Group assumed coverage on TE Connectivity in a report on Tuesday, April 9th. They issued a buy rating and a $180.00 price target for the company. Citigroup assumed coverage on TE Connectivity in a report on Friday, January 5th. They set a neutral rating and a $146.00 target price for the company. StockNews.com assumed coverage on TE Connectivity in a report on Monday. They set a buy rating for the company. Finally, JPMorgan Chase & Co. reduced their target price on TE Connectivity from $170.00 to $169.00 and set a neutral rating for the company in a report on Thursday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TE Connectivity presently has a consensus rating of Moderate Buy and an average target price of $153.50.

TE Connectivity Stock Up 0.3 %

Shares of NYSE TEL opened at $140.44 on Friday. The stock has a market cap of $43.65 billion, a P/E ratio of 12.85, a PEG ratio of 1.99 and a beta of 1.39. The company has a current ratio of 1.45, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $147.98. The business’s fifty day simple moving average is $142.59 and its 200-day simple moving average is $136.06.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.03. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the firm earned $1.65 earnings per share. As a group, equities analysts predict that TE Connectivity will post 7.59 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently declared 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. This represents a $2.60 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is presently 21.59%.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the sale, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.86% of the stock is owned by 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.