Wall Street analysts expect that TE Connectivity Ltd (NYSE:TEL) will post $3.65 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for TE Connectivity’s earnings. The highest sales estimate is $3.67 billion and the lowest is $3.64 billion. TE Connectivity reported sales of $3.46 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.5%. The company is expected to issue its next earnings results on Wednesday, November 7th.
On average, analysts expect that TE Connectivity will report full year sales of $14.64 billion for the current financial year, with estimates ranging from $14.63 billion to $14.66 billion. For the next year, analysts anticipate that the business will report sales of $15.31 billion per share, with estimates ranging from $15.13 billion to $15.47 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover TE Connectivity.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 25th. The electronics maker reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.06. The firm had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.69 billion. TE Connectivity had a return on equity of 20.33% and a net margin of 9.26%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the company earned $1.24 earnings per share.
Several research firms have recently issued reports on TEL. Zacks Investment Research lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Thursday, May 24th. Wells Fargo & Co lowered their target price on shares of TE Connectivity from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, July 17th. Morgan Stanley decreased their price objective on shares of TE Connectivity from $117.00 to $116.00 and set an “overweight” rating for the company in a report on Thursday, July 26th. Finally, ValuEngine lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, May 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. TE Connectivity presently has an average rating of “Buy” and an average price target of $112.91.
In related news, SVP Tim Murphy sold 17,100 shares of the company’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $96.20, for a total value of $1,645,020.00. Following the completion of the transaction, the senior vice president now owns 14,652 shares of the company’s stock, valued at approximately $1,409,522.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.70% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TEL. Comerica Bank raised its stake in TE Connectivity by 13.0% during the second quarter. Comerica Bank now owns 276,998 shares of the electronics maker’s stock worth $25,578,000 after purchasing an additional 31,812 shares during the period. Knights of Columbus Asset Advisors LLC raised its stake in TE Connectivity by 28.8% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 22,351 shares of the electronics maker’s stock worth $2,233,000 after purchasing an additional 5,000 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in TE Connectivity by 169.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 24,610 shares of the electronics maker’s stock worth $2,217,000 after purchasing an additional 15,480 shares during the period. Campbell Newman Asset Management Inc. raised its stake in TE Connectivity by 9.1% during the second quarter. Campbell Newman Asset Management Inc. now owns 189,399 shares of the electronics maker’s stock worth $17,057,000 after purchasing an additional 15,859 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in TE Connectivity during the second quarter worth about $1,267,000. 90.66% of the stock is owned by institutional investors and hedge funds.
TE Connectivity traded down $1.50, hitting $92.15, during trading hours on Tuesday, Marketbeat Ratings reports. 1,648,570 shares of the stock traded hands, compared to its average volume of 1,737,740. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.47. The stock has a market cap of $32.63 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.53 and a beta of 1.04. TE Connectivity has a one year low of $77.15 and a one year high of $108.23.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Friday, August 24th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Thursday, August 23rd. TE Connectivity’s payout ratio is 36.44%.
TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia?Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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