Wall Street analysts expect TE Connectivity Ltd (NYSE:TEL) to announce $3.64 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for TE Connectivity’s earnings, with estimates ranging from $3.60 billion to $3.67 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 firm is expected to report its next quarterly earnings report on Wednesday, November 7th.
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 financial year, analysts anticipate that the firm will post sales of $15.27 billion, with estimates ranging from $15.13 billion to $15.44 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for TE Connectivity.
TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, July 25th. The electronics maker reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.06. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.69 billion. TE Connectivity had a net margin of 9.26% and a return on equity of 20.33%. TE Connectivity’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.24 earnings per share.
TEL has been the topic of several research reports. Zacks Investment Research lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Wednesday, May 30th. Wells Fargo & Co dropped their price objective 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. Morgan Stanley dropped their price objective on shares of TE Connectivity from $117.00 to $116.00 and set an “overweight” rating on the stock in a research note on Thursday, July 26th. Finally, Royal Bank of Canada set a $114.00 price target on shares of TE Connectivity and gave the company a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $111.91.
Large investors have recently made changes to their positions in the business. Flagship Harbor Advisors LLC acquired a new stake in shares of TE Connectivity in the second quarter valued at approximately $111,000. Fort L.P. acquired a new stake in shares of TE Connectivity in the second quarter valued at approximately $115,000. Private Capital Group LLC acquired a new stake in shares of TE Connectivity in the second quarter valued at approximately $121,000. Moneta Group Investment Advisors LLC acquired a new stake in shares of TE Connectivity in the second quarter valued at approximately $180,000. Finally, Institutional & Family Asset Management LLC acquired a new stake in shares of TE Connectivity in the first quarter valued at approximately $196,000. Institutional investors own 87.78% of the company’s stock.
TEL opened at $88.99 on Thursday. The stock has a market cap of $31.56 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 1.48 and a beta of 1.01. TE Connectivity has a fifty-two week low of $82.06 and a fifty-two week high of $108.23. The company has a current ratio of 1.47, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.
The company also recently declared a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Friday, August 24th were paid a $0.44 dividend. The ex-dividend date was Thursday, August 23rd. This represents a $1.76 annualized dividend and a dividend yield of 1.98%. TE Connectivity’s payout ratio is currently 36.44%.
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 Asia?Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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