Wall Street analysts expect that TE Connectivity Ltd. (NYSE:TEL) will announce earnings per share of $1.35 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for TE Connectivity’s earnings, with the highest EPS estimate coming in at $1.37 and the lowest estimate coming in at $1.35. TE Connectivity reported earnings of $1.19 per share during the same quarter last year, which indicates a positive year over year growth rate of 13.4%. The firm is expected to issue its next quarterly earnings results on Wednesday, April 25th.
On average, analysts expect that TE Connectivity will report full year earnings of $5.49 per share for the current fiscal year, with EPS estimates ranging from $5.45 to $5.60. For the next financial year, analysts forecast that the business will report earnings of $5.93 per share, with EPS estimates ranging from $5.52 to $6.18. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for TE Connectivity.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.15. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.39 billion. TE Connectivity had a return on equity of 19.49% and a net margin of 9.12%. The business’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the business posted $1.15 EPS.
A number of brokerages recently issued reports on TEL. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a report on Monday, January 15th. Morgan Stanley raised their target price on TE Connectivity from $102.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. ValuEngine raised TE Connectivity from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Wells Fargo lifted their price objective on TE Connectivity from $112.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $116.00 price target on shares of TE Connectivity in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $135.67.
TEL traded down $0.37 during trading hours on Friday, hitting $98.79. The company’s stock had a trading volume of 1,421,555 shares, compared to its average volume of 1,742,936. TE Connectivity has a fifty-two week low of $71.93 and a fifty-two week high of $108.23. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.58 and a quick ratio of 1.03. The stock has a market cap of $33,803.61, a P/E ratio of 20.57, a P/E/G ratio of 1.60 and a beta of 1.07.
In other TE Connectivity news, SVP Robert J. Ott sold 10,700 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $105.14, for a total value of $1,124,998.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas J. Lynch sold 76,183 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $101.48, for a total transaction of $7,731,050.84. Following the completion of the transaction, the insider now directly owns 254,715 shares in the company, valued at $25,848,478.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 352,750 shares of company stock valued at $36,475,611. Company insiders own 0.70% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Avestar Capital LLC acquired a new stake in TE Connectivity in the fourth quarter valued at approximately $116,000. NuWave Investment Management LLC acquired a new position in shares of TE Connectivity during the fourth quarter worth $192,000. Courier Capital LLC acquired a new position in shares of TE Connectivity during the fourth quarter worth $207,000. Sigma Investment Counselors Inc. acquired a new position in shares of TE Connectivity during the fourth quarter worth $210,000. Finally, Dean Capital Investments Management LLC acquired a new position in TE Connectivity in the fourth quarter valued at $212,000. 91.76% of the stock is currently owned by institutional investors and hedge funds.
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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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