Brokerages expect TE Connectivity Ltd (NYSE:TEL) to post $3.64 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for TE Connectivity’s earnings. The highest sales estimate is $3.67 billion and the lowest is $3.60 billion. TE Connectivity reported sales of $3.46 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.2%. The business is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, October 31st.
According to Zacks, analysts expect that TE Connectivity will report full-year sales of $14.63 billion for the current financial year, with estimates ranging from $14.59 billion to $14.65 billion. For the next fiscal year, analysts expect that the business will post sales of $15.14 billion, with estimates ranging from $14.57 billion to $15.44 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover TE Connectivity.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 25th. The electronics maker reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. TE Connectivity had a return on equity of 20.33% and a net margin of 9.26%. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period last year, the business posted $1.24 EPS. TE Connectivity’s revenue for the quarter was up 11.8% on a year-over-year basis.
A number of equities analysts recently commented on TEL shares. Morgan Stanley lowered their target price on TE Connectivity from $116.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, September 17th. ValuEngine cut TE Connectivity from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a report on Thursday, June 28th. Robert W. Baird cut TE Connectivity from an “outperform” rating to a “neutral” rating in a report on Monday, October 1st. Finally, Wells Fargo & Co lowered their target price on TE Connectivity from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, July 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $111.45.
TE Connectivity stock traded down $1.06 during midday trading on Friday, reaching $77.55. 1,968,400 shares of the stock traded hands, compared to its average volume of 1,794,180. TE Connectivity has a 12-month low of $77.53 and a 12-month high of $108.23. The stock has a market capitalization of $27.72 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 1.21 and a beta of 1.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.47 and a quick ratio of 0.98.
Several institutional investors and hedge funds have recently made changes to their positions in the company. First Citizens Bank & Trust Co. boosted its stake in shares of TE Connectivity by 10.4% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 29,631 shares of the electronics maker’s stock valued at $2,605,000 after buying an additional 2,780 shares during the period. Seven Eight Capital LP purchased a new position in shares of TE Connectivity in the 3rd quarter valued at about $676,000. Oakbrook Investments LLC purchased a new position in shares of TE Connectivity in the 3rd quarter valued at about $877,000. Nisa Investment Advisors LLC boosted its stake in shares of TE Connectivity by 13.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 92,535 shares of the electronics maker’s stock valued at $8,137,000 after buying an additional 11,000 shares during the period. Finally, Andra AP fonden boosted its stake in shares of TE Connectivity by 6.9% in the 3rd quarter. Andra AP fonden now owns 58,700 shares of the electronics maker’s stock valued at $5,161,000 after buying an additional 3,800 shares during the period. Institutional investors and hedge funds own 87.89% of the company’s stock.
About TE Connectivity
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 AsiaPacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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