TE Connectivity (NYSE:TEL - Get Free Report) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.85 for the period, compared to the consensus EPS estimate of $1.92. The company issued revenue guidance of approx $4.0 billion, compared to the consensus revenue estimate of $4.11 billion. TE Connectivity also updated its Q3 2024 guidance to 1.850-1.850 EPS.
TE Connectivity Stock Down 2.3 %
Shares of TEL traded down $3.23 during trading hours on Wednesday, reaching $140.00. The stock had a trading volume of 5,767,071 shares, compared to its average volume of 2,201,586. The company has a market capitalization of $43.51 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 2.04 and a beta of 1.39. The firm has a 50-day simple moving average of $142.71 and a 200 day simple moving average of $136.00. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. TE Connectivity has a 12 month low of $115.00 and a 12 month high of $147.98.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.13. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The firm's revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.53 EPS. Equities research analysts predict that TE Connectivity will post 7.59 earnings per share for the current fiscal year.
TE Connectivity Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.86%. TE Connectivity's dividend payout ratio is presently 24.67%.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Truist Financial increased their price target on TE Connectivity from $148.00 to $153.00 and gave the company a hold rating in a research report on Thursday, January 25th. Jefferies Financial Group initiated coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They set a buy rating and a $180.00 price target on the stock. Robert W. Baird upped their price objective on shares of TE Connectivity from $147.00 to $155.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. increased their price objective on shares of TE Connectivity from $169.00 to $170.00 and gave the company a neutral rating in a research note on Thursday, April 11th. Finally, StockNews.com began coverage on TE Connectivity in a research note on Monday. They issued a buy rating on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, TE Connectivity currently has a consensus rating of Moderate Buy and an average price target of $153.30.
View Our Latest Stock Analysis on TEL
Insider Buying and Selling
In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the completion of the transaction, the insider now directly owns 30,459 shares of the company's stock, valued at $4,386,096. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.86% of the stock is currently owned by insiders.
TE Connectivity Company Profile
(
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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.
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