TE Connectivity Ltd (NYSE:TEL) – Equities researchers at SunTrust Banks decreased their Q1 2019 earnings per share (EPS) estimates for TE Connectivity in a research note issued to investors on Wednesday, October 31st. SunTrust Banks analyst W. Stein now forecasts that the electronics maker will earn $1.27 per share for the quarter, down from their previous forecast of $1.31. SunTrust Banks has a “Hold” rating and a $82.00 price target on the stock. SunTrust Banks also issued estimates for TE Connectivity’s Q2 2019 earnings at $1.37 EPS, Q4 2019 earnings at $1.44 EPS, FY2019 earnings at $5.71 EPS and Q1 2020 earnings at $1.44 EPS.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 31st. The electronics maker reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.02. TE Connectivity had a net margin of 17.69% and a return on equity of 20.06%. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the business posted $1.25 EPS. TE Connectivity’s quarterly revenue was up 8.5% on a year-over-year basis.
TEL has been the topic of several other research reports. Morgan Stanley dropped their price target on shares of TE Connectivity from $116.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, September 17th. ValuEngine lowered shares of TE Connectivity from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Robert W. Baird lowered shares of TE Connectivity from an “outperform” rating to a “neutral” rating in a research note on Monday, October 1st. Wells Fargo & Co dropped their price target on shares of TE Connectivity from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 17th. Finally, Royal Bank of Canada dropped their price target on shares of TE Connectivity to $96.00 and set a “positive” rating on the stock in a research note on Thursday. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. TE Connectivity has an average rating of “Buy” and a consensus target price of $108.00.
Shares of TEL opened at $77.44 on Friday. TE Connectivity has a 12 month low of $73.70 and a 12 month high of $108.23. The firm has a market cap of $26.98 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 1.21 and a beta of 1.16. The company has a current ratio of 1.41, a quick ratio of 0.98 and a debt-to-equity ratio of 0.28.
Large investors have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC acquired a new position in TE Connectivity in the 2nd quarter valued at $111,000. Fort L.P. bought a new stake in TE Connectivity in the 2nd quarter valued at $115,000. Private Capital Group LLC bought a new stake in TE Connectivity in the 2nd quarter valued at $121,000. CIBC World Markets Inc. bought a new stake in TE Connectivity in the 1st quarter valued at $246,000. Finally, Legacy Capital Partners Inc. bought a new stake in TE Connectivity in the 3rd quarter valued at $217,000. Institutional investors and hedge funds own 88.01% 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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