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

TE Connectivity (NYSE:TEL) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.850-1.850 for the period, compared to the consensus 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 Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a buy rating and a $180.00 target price for the company. The Goldman Sachs Group reaffirmed a buy rating on shares of TE Connectivity in a research report on Monday, April 1st. StockNews.com assumed coverage on TE Connectivity in a research report on Monday. They set a buy rating for the company. JPMorgan Chase & Co. decreased their target price on TE Connectivity from $170.00 to $169.00 and set a neutral rating for the company in a research report on Thursday. Finally, Stifel Nicolaus lifted their price objective on TE Connectivity from $140.00 to $145.00 and gave the stock a hold rating in a report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $153.50.

TE Connectivity Stock Up 0.3 %

Shares of NYSE TEL opened at $140.44 on Friday. TE Connectivity has a 52 week low of $115.00 and a 52 week high of $147.98. The business has a 50-day simple moving average of $142.59 and a two-hundred day simple moving average of $136.06. The company has a quick ratio of 1.16, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The company has a market cap of $43.65 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.99 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company posted $1.65 EPS. Research analysts anticipate that TE Connectivity will post 7.59 earnings per share 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. Stockholders of record on Friday, February 21st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.85%. TE Connectivity’s dividend payout ratio (DPR) is presently 21.59%.

Insider Activity

In related news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction that occurred 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 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.86% of the company’s stock.

TE Connectivity Company Profile

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.