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

TE Connectivity (NYSE:TEL) updated its third quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.850-1.850 for the period, compared to the consensus EPS 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 analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of TE Connectivity from $170.00 to $169.00 and set a neutral rating for the company in a report on Thursday. Citigroup assumed coverage on shares of TE Connectivity in a report on Friday, January 5th. They set a neutral rating and a $146.00 target price for the company. Stifel Nicolaus raised their target price on shares of TE Connectivity from $140.00 to $145.00 and gave the company a hold rating in a report on Thursday, January 25th. Truist Financial raised their target price on shares of TE Connectivity from $148.00 to $153.00 and gave the company a hold rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group restated a buy rating on shares of TE Connectivity in a report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, TE Connectivity currently has a consensus rating of Moderate Buy and an average target price of $153.50.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $140.21 on Friday. The company has a 50-day simple moving average of $142.55 and a 200-day simple moving average of $136.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 1.16. TE Connectivity has a 12 month low of $115.00 and a 12 month high of $147.98. The company has a market cap of $43.58 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the company earned $1.65 earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. On average, equities analysts anticipate that TE Connectivity will post 7.56 earnings per share for the current year.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.85%. TE Connectivity’s dividend payout ratio is presently 21.59%.

Insider Buying and Selling

In related news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the sale, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.