Brokerages Anticipate TE Connectivity Ltd (NYSE:TEL) Will Post Earnings of $0.99 Per Share

Brokerages expect that TE Connectivity Ltd (NYSE:TEL) will post earnings per share of $0.99 for the current quarter, according to Zacks. Six analysts have made estimates for TE Connectivity’s earnings, with estimates ranging from $0.62 to $1.15. TE Connectivity posted earnings of $1.50 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 34%. The firm is scheduled to announce its next earnings results on Wednesday, July 22nd.

On average, analysts expect that TE Connectivity will report full year earnings of $3.75 per share for the current year, with EPS estimates ranging from $3.41 to $4.04. For the next fiscal year, analysts expect that the company will post earnings of $4.70 per share, with EPS estimates ranging from $3.73 to $5.58. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow TE Connectivity.

TE Connectivity (NYSE:TEL) last released its earnings results on Tuesday, April 28th. The electronics maker reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.29. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.94 billion. TE Connectivity had a net margin of 5.36% and a return on equity of 17.58%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.42 EPS.

A number of equities research analysts have recently weighed in on TEL shares. Robert W. Baird upgraded shares of TE Connectivity from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $76.00 to $97.00 in a report on Monday, June 1st. Oppenheimer started coverage on shares of TE Connectivity in a report on Wednesday, May 6th. They issued a “buy” rating and a $92.00 price objective on the stock. Cfra reduced their price objective on shares of TE Connectivity from $108.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Zacks Investment Research upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating and set a $72.00 price objective on the stock in a report on Friday, May 15th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $84.00 price objective on shares of TE Connectivity in a report on Wednesday, March 18th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $92.38.

Institutional investors have recently modified their holdings of the business. KBC Group NV grew its position in TE Connectivity by 158.5% during the 4th quarter. KBC Group NV now owns 463,520 shares of the electronics maker’s stock worth $44,424,000 after purchasing an additional 284,192 shares during the last quarter. Highstreet Asset Management Inc. purchased a new position in TE Connectivity during the 4th quarter worth $250,000. AlphaCrest Capital Management LLC grew its position in TE Connectivity by 55.2% during the 1st quarter. AlphaCrest Capital Management LLC now owns 21,278 shares of the electronics maker’s stock worth $1,340,000 after purchasing an additional 7,571 shares during the last quarter. Nuveen Asset Management LLC grew its position in TE Connectivity by 3.7% during the 1st quarter. Nuveen Asset Management LLC now owns 1,734,274 shares of the electronics maker’s stock worth $109,225,000 after purchasing an additional 62,336 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in TE Connectivity by 4.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 370,411 shares of the electronics maker’s stock worth $23,328,000 after purchasing an additional 14,090 shares during the last quarter. 91.10% of the stock is currently owned by institutional investors.

TE Connectivity stock traded up $0.95 during mid-day trading on Tuesday, reaching $81.55. 1,917,552 shares of the company’s stock were exchanged, compared to its average volume of 2,226,769. The company has a market cap of $26.59 billion, a P/E ratio of 39.98, a P/E/G ratio of 2.02 and a beta of 1.33. TE Connectivity has a twelve month low of $48.62 and a twelve month high of $101.00. The company has a quick ratio of 0.94, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average of $79.99 and a 200-day moving average of $82.11.

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.35%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is 34.59%.

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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Earnings History and Estimates for TE Connectivity (NYSE:TEL)

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