TE Connectivity (TEL) Projected to Post Earnings on Wednesday

TE Connectivity (NYSE:TEL) will likely be releasing its earnings data before the market opens on Wednesday, January 22nd. Analysts expect TE Connectivity to post earnings of $1.89 per share and revenue of $3,916,310.63 billion for the quarter. TE Connectivity has set its Q1 2024 guidance at 1.880-1.880 EPS and its Q1 guidance at $1.88 EPS.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting the consensus estimate of $1.95. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. On average, analysts expect TE Connectivity to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

TE Connectivity Trading Up 0.5 %

Shares of TE Connectivity stock traded up $0.77 during midday trading on Wednesday, reaching $143.67. The company had a trading volume of 2,116,498 shares, compared to its average volume of 1,405,931. The firm has a market cap of $42.98 billion, a PE ratio of 13.99, a P/E/G ratio of 2.04 and a beta of 1.32. The stock has a fifty day moving average price of $148.33 and a 200 day moving average price of $148.88. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. TE Connectivity has a fifty-two week low of $128.52 and a fifty-two week high of $159.98.

TE Connectivity announced that its board has approved a share buyback plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages recently weighed in on TEL. Bank of America lowered their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company dropped their price objective on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a report on Thursday, October 31st. Finally, The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.70.

About TE Connectivity

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.