Equities analysts forecast that TE Connectivity Ltd. (NYSE:TEL) will post sales of $3.59 billion for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for TE Connectivity’s earnings. The lowest sales estimate is $3.58 billion and the highest is $3.60 billion. TE Connectivity posted sales of $3.23 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 11.1%. The company is expected to announce its next quarterly earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that TE Connectivity will report full year sales of $3.59 billion for the current fiscal year, with estimates ranging from $14.22 billion to $14.44 billion. For the next fiscal year, analysts expect that the firm will post sales of $14.87 billion per share, with estimates ranging from $14.59 billion to $15.31 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for TE Connectivity.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.15. TE Connectivity had a return on equity of 19.49% and a net margin of 9.12%. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the firm earned $1.15 earnings per share. The company’s revenue was up 13.6% compared to the same quarter last year.
Several brokerages have issued reports on TEL. Oppenheimer began coverage on TE Connectivity in a research note on Monday, March 26th. They issued an “outperform” rating and a $120.00 price target on the stock. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research note on Friday, March 23rd. ValuEngine upgraded TE Connectivity from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. SunTrust Banks restated a “hold” rating and set a $102.00 price objective on shares of TE Connectivity in a report on Thursday, January 25th. Finally, Morgan Stanley boosted their price objective on TE Connectivity from $102.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $135.67.
Shares of TEL opened at $95.91 on Friday. TE Connectivity has a 52-week low of $71.93 and a 52-week high of $108.23. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $34,695.68, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 1.64 and a beta of 1.07.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.67%. TE Connectivity’s dividend payout ratio is 33.13%.
In related news, insider Terrence R. Curtin sold 142,450 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $104.24, for a total transaction of $14,848,988.00. Following the completion of the sale, the insider now owns 200,258 shares in the company, valued at $20,874,893.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas J. Lynch sold 76,183 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $103.61, for a total value of $7,893,320.63. Following the sale, the insider now owns 254,715 shares of the company’s stock, valued at approximately $26,391,021.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 352,750 shares of company stock valued at $36,475,611. Corporate insiders own 0.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in TE Connectivity by 4.2% during the fourth quarter. BlackRock Inc. now owns 17,425,074 shares of the electronics maker’s stock worth $1,656,081,000 after buying an additional 694,901 shares in the last quarter. Boston Partners grew its stake in TE Connectivity by 2.6% in the 4th quarter. Boston Partners now owns 12,746,402 shares of the electronics maker’s stock valued at $1,211,419,000 after purchasing an additional 318,066 shares during the period. Wells Fargo & Company MN grew its stake in TE Connectivity by 8.7% in the 4th quarter. Wells Fargo & Company MN now owns 3,900,641 shares of the electronics maker’s stock valued at $370,717,000 after purchasing an additional 313,244 shares during the period. Geode Capital Management LLC grew its stake in TE Connectivity by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 3,605,770 shares of the electronics maker’s stock valued at $341,957,000 after purchasing an additional 105,388 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in TE Connectivity by 3.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,077,914 shares of the electronics maker’s stock valued at $197,484,000 after purchasing an additional 69,706 shares during the period. Institutional investors and hedge funds own 91.76% of the company’s stock.
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About TE Connectivity
TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation Solutions, Industrial Solutions, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.
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