Equities research analysts predict that TE Connectivity Ltd (NYSE:TEL) will post $2.82 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for TE Connectivity’s earnings, with estimates ranging from $2.81 billion to $2.84 billion. TE Connectivity reported sales of $3.30 billion during the same quarter last year, which indicates a negative year over year growth rate of 14.5%. The company is expected to announce its next earnings report on Wednesday, November 4th.
According to Zacks, analysts expect that TE Connectivity will report full year sales of $11.73 billion for the current year, with estimates ranging from $11.71 billion to $11.75 billion. For the next fiscal year, analysts forecast that the firm will report sales of $12.68 billion, with estimates ranging from $12.24 billion to $13.14 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for TE Connectivity.
TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 29th. The electronics maker reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.18. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.40 billion. TE Connectivity had a positive return on equity of 15.06% and a negative net margin of 0.81%. TE Connectivity’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period last year, the firm earned $1.50 earnings per share.
A number of equities analysts have recently weighed in on the company. Robert W. Baird upgraded TE Connectivity from a “neutral” rating to an “outperform” rating and upped their target price for the company from $76.00 to $97.00 in a report on Monday, June 1st. Morgan Stanley upped their target price on TE Connectivity from $84.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, July 15th. Oppenheimer upped their target price on TE Connectivity from $92.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Jefferies Financial Group boosted their price target on TE Connectivity from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Royal Bank of Canada boosted their price target on TE Connectivity from $89.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $95.71.
NYSE TEL traded up $0.92 on Tuesday, hitting $98.75. 2,396,400 shares of the company were exchanged, compared to its average volume of 1,478,077. The firm has a market capitalization of $32.59 billion, a P/E ratio of -318.55, a price-to-earnings-growth ratio of 2.42 and a beta of 1.38. TE Connectivity has a twelve month low of $48.62 and a twelve month high of $101.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 0.83. The company’s 50 day moving average price is $92.08 and its 200-day moving average price is $79.85.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 21st were paid a dividend of $0.48 per share. The ex-dividend date was Thursday, August 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.94%. TE Connectivity’s dividend payout ratio is currently 34.59%.
In other TE Connectivity news, insider Kevin N. Rock sold 28,000 shares of TE Connectivity stock in a transaction on Monday, August 10th. The stock was sold at an average price of $93.29, for a total value of $2,612,120.00. Following the completion of the transaction, the insider now directly owns 82,473 shares of the company’s stock, valued at approximately $7,693,906.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eric Resch sold 53,100 shares of TE Connectivity stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $96.00, for a total value of $5,097,600.00. Following the completion of the transaction, the senior vice president now directly owns 67,910 shares of the company’s stock, valued at $6,519,360. The disclosure for this sale can be found here. Insiders have sold a total of 117,270 shares of company stock valued at $11,147,920 over the last quarter. 0.80% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Neuberger Berman Group LLC raised its position in TE Connectivity by 13.1% during the second quarter. Neuberger Berman Group LLC now owns 737,912 shares of the electronics maker’s stock valued at $60,153,000 after purchasing an additional 85,388 shares in the last quarter. Handelsbanken Fonder AB raised its position in TE Connectivity by 83.1% during the second quarter. Handelsbanken Fonder AB now owns 156,333 shares of the electronics maker’s stock valued at $12,749,000 after purchasing an additional 70,972 shares in the last quarter. Nuveen Asset Management LLC raised its position in TE Connectivity by 76.7% during the second quarter. Nuveen Asset Management LLC now owns 3,063,730 shares of the electronics maker’s stock valued at $246,936,000 after purchasing an additional 1,329,456 shares in the last quarter. Stephens Inc. AR raised its position in TE Connectivity by 1.7% during the second quarter. Stephens Inc. AR now owns 27,565 shares of the electronics maker’s stock valued at $2,248,000 after purchasing an additional 458 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of TE Connectivity by 3.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,926,324 shares of the electronics maker’s stock worth $157,093,000 after buying an additional 68,161 shares during the period. 90.30% of the stock is owned by hedge funds and other institutional investors.
TE Connectivity Company Profile
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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