Wall Street analysts predict that TE Connectivity Ltd. (NYSE:TEL) will announce $3.37 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for TE Connectivity’s earnings. The lowest sales estimate is $3.34 billion and the highest is $3.39 billion. TE Connectivity posted sales of $3.06 billion in the same quarter last year, which suggests a positive year over year growth rate of 10.1%. The business is expected to report its next earnings report on Wednesday, January 24th.
On average, analysts expect that TE Connectivity will report full-year sales of $3.37 billion for the current fiscal year, with estimates ranging from $13.11 billion to $14.00 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $14.60 billion per share, with estimates ranging from $14.44 billion to $14.84 billion. Zacks’ sales averages are an average based on a survey of analysts that follow TE Connectivity.
TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.09. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.22 earnings per share.
A number of research firms have weighed in on TEL. Zacks Investment Research cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Morgan Stanley reissued an “overweight” rating and set a $89.00 price objective on shares of TE Connectivity in a report on Wednesday, September 20th. BidaskClub cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Citigroup Inc. raised their price objective on shares of TE Connectivity from $92.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $150.00.
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In other TE Connectivity news, insider Thomas J. Lynch sold 130,616 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $83.37, for a total transaction of $10,889,455.92. Following the sale, the insider now directly owns 429,499 shares in the company, valued at approximately $35,807,331.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mario Calastri sold 8,539 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $93.27, for a total transaction of $796,432.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 521,346 shares of company stock worth $44,465,473. 1.49% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Duncker Streett & Co. Inc. raised its stake in shares of TE Connectivity by 17.8% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock worth $104,000 after buying an additional 200 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of TE Connectivity by 38.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock worth $109,000 after buying an additional 384 shares during the last quarter. AllSquare Wealth Management LLC acquired a new position in shares of TE Connectivity during the 3rd quarter worth $113,000. Acrospire Investment Management LLC acquired a new position in shares of TE Connectivity during the 2nd quarter worth $126,000. Finally, Harfst & Associates Inc. raised its stake in shares of TE Connectivity by 46.2% during the 2nd quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock worth $135,000 after buying an additional 544 shares during the last quarter. Institutional investors own 90.07% of the company’s stock.
Shares of TE Connectivity (NYSE TEL) traded down $0.17 during trading hours on Tuesday, reaching $93.36. 1,534,400 shares of the company traded hands, compared to its average volume of 1,416,352. The firm has a market capitalization of $33,052.02, a PE ratio of 19.36, a price-to-earnings-growth ratio of 1.81 and a beta of 1.06. TE Connectivity has a 52-week low of $66.14 and a 52-week high of $93.75. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.71%. TE Connectivity’s dividend payout ratio (DPR) is 33.97%.
TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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