Wall Street analysts expect TE Connectivity Ltd (NYSE:TEL) to post $3.65 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for TE Connectivity’s earnings. The highest sales estimate is $3.67 billion and the lowest is $3.64 billion. TE Connectivity reported sales of $3.46 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.5%. The company is expected to issue its next quarterly earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that TE Connectivity will report full year sales of $14.64 billion for the current financial year, with estimates ranging from $14.63 billion to $14.66 billion. For the next financial year, analysts anticipate that the firm will post sales of $15.31 billion per share, with estimates ranging from $15.13 billion to $15.47 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover TE Connectivity.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 25th. The electronics maker reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.06. TE Connectivity had a net margin of 9.26% and a return on equity of 20.33%. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the business earned $1.24 EPS. The business’s revenue was up 11.8% on a year-over-year basis.
Several analysts have recently commented on TEL shares. Goldman Sachs Group upgraded shares of TE Connectivity from a “sell” rating to a “neutral” rating and set a $101.00 target price for the company in a research note on Wednesday, April 18th. Zacks Investment Research downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Thursday, May 24th. Morgan Stanley lifted their price target on shares of TE Connectivity from $111.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, April 26th. Wells Fargo & Co decreased their target price on shares of TE Connectivity from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 17th. Finally, Robert W. Baird reissued a “buy” rating and issued a $123.00 target price on shares of TE Connectivity in a research report on Tuesday, April 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $112.91.
In other TE Connectivity news, SVP Tim Murphy sold 17,100 shares of TE Connectivity stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $96.20, for a total transaction of $1,645,020.00. Following the transaction, the senior vice president now directly owns 14,652 shares of the company’s stock, valued at $1,409,522.40. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bamco Inc. NY acquired a new position in shares of TE Connectivity during the first quarter worth $108,000. Private Capital Group LLC bought a new stake in TE Connectivity during the second quarter valued at $121,000. Institutional & Family Asset Management LLC bought a new stake in TE Connectivity during the first quarter valued at $196,000. Commerce Bank bought a new stake in TE Connectivity during the first quarter valued at $207,000. Finally, Aspiriant LLC bought a new stake in TE Connectivity during the first quarter valued at $208,000. 90.66% of the stock is currently owned by institutional investors and hedge funds.
Shares of TEL stock traded down $1.50 during mid-day trading on Tuesday, hitting $92.15. The stock had a trading volume of 1,648,570 shares, compared to its average volume of 1,737,740. TE Connectivity has a fifty-two week low of $77.15 and a fifty-two week high of $108.23. The stock has a market capitalization of $32.63 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.47.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Shareholders of record on Friday, August 24th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $1.76 dividend on an annualized basis and a yield of 1.91%. TE Connectivity’s dividend payout ratio (DPR) is 36.44%.
About TE Connectivity
TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia?Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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