TE Connectivity (NYSE:TEL) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

TE Connectivity (NYSE:TEL) issued its earnings results on Wednesday. The electronics maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03, Briefing.com reports. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 earnings per share. TE Connectivity updated its Q3 2024 guidance to 1.850-1.850 EPS and its Q3 guidance to $1.85 EPS.

TE Connectivity Stock Performance

Shares of TEL opened at $140.21 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $142.55 and a 200-day moving average price of $136.17. The company has a market cap of $43.58 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. TE Connectivity has a 12-month low of $115.00 and a 12-month high of $147.98.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.85%. TE Connectivity’s dividend payout ratio (DPR) is presently 21.59%.

Analyst Upgrades and Downgrades

TEL has been the subject of several research reports. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Citigroup initiated coverage on TE Connectivity in a report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price objective on the stock. Jefferies Financial Group assumed coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price for the company. JPMorgan Chase & Co. decreased their price target on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Truist Financial lifted their price objective on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $153.50.

Insider Activity

In other news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.86% of the company’s stock.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.