Analysts forecast that TE Connectivity Ltd (NYSE:TEL) will post $1.35 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for TE Connectivity’s earnings, with the lowest EPS estimate coming in at $1.35 and the highest estimate coming in at $1.36. TE Connectivity posted earnings per share of $1.19 during the same quarter last year, which indicates a positive year over year growth rate of 13.4%. The firm is expected to report its next earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that TE Connectivity will report full-year earnings of $5.48 per share for the current year, with EPS estimates ranging from $5.45 to $5.52. For the next fiscal year, analysts forecast that the firm will post earnings of $5.90 per share, with EPS estimates ranging from $5.52 to $6.13. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow TE Connectivity.
TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.25 by $0.15. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.39 billion. TE Connectivity had a return on equity of 19.49% and a net margin of 9.12%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 earnings per share.
Several research analysts have commented on the company. Royal Bank of Canada cut their price target on TE Connectivity from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, November 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $115.00 price target on shares of TE Connectivity in a research report on Wednesday, January 24th. SunTrust Banks reaffirmed a “hold” rating and set a $102.00 price target on shares of TE Connectivity in a research report on Thursday, January 25th. Morgan Stanley lifted their price target on TE Connectivity from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd. Finally, Citigroup lifted their price target on TE Connectivity from $92.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. TE Connectivity currently has a consensus rating of “Buy” and an average price target of $137.09.
In related news, SVP Robert J. Ott sold 20,000 shares of TE Connectivity stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $95.78, for a total value of $1,915,600.00. Following the sale, the senior vice president now directly owns 31,390 shares in the company, valued at $3,006,534.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Thomas J. Lynch sold 130,617 shares of TE Connectivity stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $93.34, for a total value of $12,191,790.78. Following the completion of the sale, the chairman now owns 266,953 shares in the company, valued at $24,917,393.02. The disclosure for this sale can be found here. Insiders sold a total of 534,634 shares of company stock worth $52,810,762 over the last quarter. Company insiders own 0.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of TE Connectivity by 4.2% in the fourth quarter. BlackRock Inc. now owns 17,425,074 shares of the electronics maker’s stock valued at $1,656,081,000 after buying an additional 694,901 shares in the last quarter. Boston Partners boosted its stake in shares of TE Connectivity by 2.6% in the fourth quarter. Boston Partners now owns 12,746,402 shares of the electronics maker’s stock valued at $1,211,419,000 after buying an additional 318,066 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of TE Connectivity by 17.7% in the third quarter. Janus Henderson Group PLC now owns 8,247,518 shares of the electronics maker’s stock valued at $685,033,000 after buying an additional 1,239,920 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of TE Connectivity by 8.7% in the fourth quarter. Wells Fargo & Company MN now owns 3,900,641 shares of the electronics maker’s stock valued at $370,717,000 after buying an additional 313,244 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of TE Connectivity by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 3,605,770 shares of the electronics maker’s stock valued at $341,957,000 after buying an additional 105,388 shares in the last quarter. Hedge funds and other institutional investors own 89.58% of the company’s stock.
TE Connectivity (TEL) traded up $0.70 on Wednesday, reaching $102.10. The company’s stock had a trading volume of 1,706,916 shares, compared to its average volume of 2,276,877. The firm has a market capitalization of $35,612.33, a price-to-earnings ratio of 29.51, a price-to-earnings-growth ratio of 1.70 and a beta of 1.11. TE Connectivity has a 52 week low of $71.93 and a 52 week high of $108.23. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.03 and a current ratio of 1.58.
TE Connectivity declared that its Board of Directors has authorized a stock repurchase plan on Friday, December 8th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be paid a $0.40 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.57%. TE Connectivity’s dividend payout ratio (DPR) is currently 46.24%.
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TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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