TE Connectivity (TEL) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS
TE Connectivity (NYSE:TEL) issued its quarterly earnings data on Wednesday. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05, Analyst RN reports. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.27 billion.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs Group Inc. downgraded shares of TE Connectivity from a “conviction-buy” rating to a “buy” rating in a research note to investors on Tuesday, January 14th. On a related note, analysts at UBS AG raised their price target on shares of TE Connectivity from $56.00 to $58.00 in a research note to investors on Thursday, October 31st. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of TE Connectivity from $57.00 to $61.00 in a research note to investors on Thursday, October 31st. They now have an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $50.50.
TE Connectivity Ltd., formerly Tyco Electronics Ltd., designs and manufactures over 500,000 products that connect and protect the flow of power and data inside various products.
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