Equities research analysts expect that TE Connectivity Ltd (NYSE:TEL) will announce $2.82 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for TE Connectivity's earnings, with the highest sales estimate coming in at $2.84 billion and the lowest estimate coming in at $2.81 billion. TE Connectivity posted sales of $3.30 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 14.5%. The company is scheduled to issue its next earnings results on Wednesday, November 4th.
On average, 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 year, analysts anticipate that the business will post sales of $12.69 billion, with estimates ranging from $12.24 billion to $13.14 billion. Zacks' sales averages are an average based on a survey of research firms that cover TE Connectivity.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, July 29th. The electronics maker reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.41 by $0.18. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.40 billion. TE Connectivity had a negative net margin of 0.81% and a positive return on equity of 15.06%. The business's revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 EPS.
TEL has been the topic of several analyst reports. Robert W. Baird raised shares of TE Connectivity from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $76.00 to $97.00 in a report on Monday, June 1st. SunTrust Banks upped their target price on shares of TE Connectivity from $73.00 to $94.00 and gave the stock a "hold" rating in a report on Thursday, July 30th. Jefferies Financial Group upped their target price on shares of TE Connectivity from $100.00 to $107.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Morgan Stanley upped their target price on shares of TE Connectivity from $84.00 to $89.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 15th. Finally, Wells Fargo & Company upped their target price on shares of TE Connectivity from $92.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. TE Connectivity presently has an average rating of "Buy" and an average price target of $99.07.
In other TE Connectivity news, SVP Eric Resch sold 53,100 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $96.00, for a total transaction of $5,097,600.00. Following the transaction, the senior vice president now directly owns 67,910 shares in the company, valued at approximately $6,519,360. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kevin N. Rock sold 25,413 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $95.25, for a total transaction of $2,420,588.25. Following the completion of the sale, the insider now owns 72,023 shares in the company, valued at $6,860,190.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,270 shares of company stock worth $11,147,920. Corporate insiders own 0.80% of the company's stock.
Several large investors have recently made changes to their positions in TEL. Public Employees Retirement Association of Colorado raised its position in shares of TE Connectivity by 8.3% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 62,025 shares of the electronics maker's stock valued at $3,906,000 after acquiring an additional 4,758 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in TE Connectivity by 10.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,072 shares of the electronics maker's stock worth $508,000 after purchasing an additional 753 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in TE Connectivity by 88.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 6,879 shares of the electronics maker's stock worth $433,000 after purchasing an additional 3,233 shares in the last quarter. Cigna Investments Inc. New increased its stake in TE Connectivity by 8.8% during the 1st quarter. Cigna Investments Inc. New now owns 6,767 shares of the electronics maker's stock worth $427,000 after purchasing an additional 550 shares in the last quarter. Finally, State Street Corp increased its stake in TE Connectivity by 1.7% during the 1st quarter. State Street Corp now owns 13,074,160 shares of the electronics maker's stock worth $823,411,000 after purchasing an additional 216,573 shares in the last quarter. Institutional investors and hedge funds own 90.30% of the company's stock.
Shares of TE Connectivity stock opened at $93.96 on Thursday. The firm has a market capitalization of $31.01 billion, a PE ratio of -303.10, a price-to-earnings-growth ratio of 2.40 and a beta of 1.38. 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 fifty day moving average price is $96.22 and its two-hundred day moving average price is $80.81. TE Connectivity has a 52-week low of $48.62 and a 52-week high of $103.20.
The business also recently declared a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $1.92 annualized dividend and a yield of 2.04%. TE Connectivity's dividend payout ratio (DPR) 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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