TE Connectivity Ltd. (NYSE:TEL) to Post Q3 2024 Earnings of $1.85 Per Share, Zacks Research Forecasts

TE Connectivity Ltd. (NYSE:TEL - Free Report) - Research analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for shares of TE Connectivity in a research note issued to investors on Wednesday, May 15th. Zacks Research analyst A. Ganguly now forecasts that the electronics maker will post earnings of $1.85 per share for the quarter, down from their prior estimate of $1.88. The consensus estimate for TE Connectivity's current full-year earnings is $7.51 per share. Zacks Research also issued estimates for TE Connectivity's Q4 2024 earnings at $1.93 EPS, FY2024 earnings at $7.48 EPS, Q1 2025 earnings at $1.92 EPS, Q2 2025 earnings at $2.00 EPS, Q3 2025 earnings at $2.05 EPS, Q4 2025 earnings at $2.15 EPS, Q1 2026 earnings at $2.09 EPS, Q2 2026 earnings at $2.22 EPS and FY2026 earnings at $9.01 EPS.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The business's quarterly revenue was down 4.6% compared to the same quarter last year.

TEL has been the subject of a number of other reports. Truist Financial increased their target price on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a "hold" rating in a report on Thursday, January 25th. Robert W. Baird dropped their price objective on TE Connectivity from $159.00 to $158.00 and set an "outperform" rating for the company in a report on Thursday, April 25th. Jefferies Financial Group assumed coverage on TE Connectivity in a research note on Tuesday, April 9th. They set a "buy" rating and a $180.00 target price on the stock. The Goldman Sachs Group reaffirmed a "buy" rating on shares of TE Connectivity in a research note on Monday, April 1st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a "neutral" rating on the stock in a research report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, TE Connectivity presently has an average rating of "Moderate Buy" and a consensus target price of $153.89.

TE Connectivity Trading Down 0.2 %

TEL traded down $0.37 during trading on Thursday, hitting $151.09. 1,355,102 shares of the stock traded hands, compared to its average volume of 2,109,867. The firm has a market capitalization of $46.27 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 2.18 and a beta of 1.36. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $152.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. The firm has a 50-day moving average of $143.05 and a 200 day moving average of $138.45.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors 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 yield of 1.72%. TE Connectivity's dividend payout ratio (DPR) is currently 21.59%.

Insider Buying and Selling

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the firm's stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares of the company's stock, valued at $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TE Connectivity

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new position in TE Connectivity in the 4th quarter valued at approximately $10,759,000. Nordea Investment Management AB boosted its position in shares of TE Connectivity by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker's stock valued at $114,430,000 after buying an additional 41,198 shares during the last quarter. SG Americas Securities LLC increased its holdings in TE Connectivity by 518.3% in the 4th quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker's stock worth $21,876,000 after buying an additional 130,515 shares in the last quarter. Patten Group Inc. purchased a new position in TE Connectivity in the 4th quarter worth about $220,000. Finally, Ninety One North America Inc. lifted its stake in TE Connectivity by 39.4% during the 4th quarter. Ninety One North America Inc. now owns 61,289 shares of the electronics maker's stock valued at $8,611,000 after acquiring an additional 17,322 shares during the period. 91.43% of the stock is currently owned by institutional investors.

About TE Connectivity

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.