Equities analysts expect TE Connectivity Ltd (NYSE:TEL) to post earnings of $0.81 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for TE Connectivity’s earnings, with estimates ranging from $0.78 to $0.88. TE Connectivity posted earnings of $1.33 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 39.1%. The firm is scheduled to announce its next earnings report on Wednesday, November 4th.
According to Zacks, analysts expect that TE Connectivity will report full-year earnings of $3.91 per share for the current fiscal year, with EPS estimates ranging from $3.84 to $3.99. For the next year, analysts anticipate that the business will report earnings of $4.81 per share, with EPS estimates ranging from $4.45 to $5.06. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for TE Connectivity.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 29th. The electronics maker reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.18. TE Connectivity had a negative net margin of 0.81% and a positive return on equity of 15.06%. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the firm posted $1.50 earnings per share. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year.
TEL has been the subject of a number of research reports. Jefferies Financial Group boosted their target price on shares of TE Connectivity from $100.00 to $107.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Citigroup boosted their target price on shares of TE Connectivity from $75.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Wells Fargo & Co boosted their target price on shares of TE Connectivity from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Thursday, July 16th. Finally, Oppenheimer boosted their target price on shares of TE Connectivity from $92.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. TE Connectivity currently has a consensus rating of “Buy” and an average price target of $95.71.
In other news, insider Kevin N. Rock sold 28,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $93.29, for a total value of $2,612,120.00. Following the transaction, the insider now directly owns 82,473 shares in the company, valued at approximately $7,693,906.17. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Eric Resch sold 53,100 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $96.00, for a total transaction of $5,097,600.00. Following the completion of the transaction, the senior vice president now owns 67,910 shares in the company, valued at $6,519,360. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,270 shares of company stock worth $11,147,920. Company insiders own 0.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Gemmer Asset Management LLC acquired a new stake in TE Connectivity during the 2nd quarter worth approximately $26,000. WASHINGTON TRUST Co purchased a new stake in shares of TE Connectivity in the 1st quarter valued at approximately $35,000. NEXT Financial Group Inc increased its position in shares of TE Connectivity by 34.1% in the 1st quarter. NEXT Financial Group Inc now owns 645 shares of the electronics maker’s stock valued at $40,000 after purchasing an additional 164 shares during the last quarter. Eudaimonia Partners LLC increased its position in shares of TE Connectivity by 72.9% in the 1st quarter. Eudaimonia Partners LLC now owns 631 shares of the electronics maker’s stock valued at $40,000 after purchasing an additional 266 shares during the last quarter. Finally, Balentine LLC purchased a new stake in shares of TE Connectivity in the 1st quarter valued at approximately $44,000. Hedge funds and other institutional investors own 90.30% of the company’s stock.
NYSE TEL traded up $0.92 on Friday, reaching $98.75. 2,396,400 shares of the company’s stock traded hands, compared to its average volume of 1,478,077. The firm has a market cap of $32.59 billion, a price-to-earnings ratio of -318.55, a P/E/G ratio of 2.42 and a beta of 1.38. The stock has a 50 day moving average price of $92.08 and a 200-day moving average price of $79.85. TE Connectivity has a fifty-two week low of $48.62 and a fifty-two week high of $101.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 1.43.
The company also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were issued a $0.48 dividend. The ex-dividend date was Thursday, August 20th. This represents a $1.92 annualized dividend and a yield of 1.94%. TE Connectivity’s payout ratio is 34.59%.
About TE Connectivity
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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