TE Connectivity (TEL) Releases FY14 Earnings Guidance
TE Connectivity (NYSE:TEL) updated its FY14 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $3.65-3.85 for the period, compared to the Thomson Reuters consensus estimate of $3.80, AnalystRatingsNetwork reports. The company issued revenue guidance of $13.8-14.2 billion, compared to the consensus revenue estimate of $14.09 billion.TE Connectivity also updated its Q2 guidance to $0.88-0.92 EPS.
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. TE Connectivity currently has a consensus rating of Hold and a consensus price target of $50.50.
Shares of TE Connectivity (NYSE:TEL) traded up 6.15% during mid-day trading on Wednesday, hitting $59.76. The stock had a trading volume of 1,816,881 shares. TE Connectivity has a 52-week low of $38.18 and a 52-week high of $56.40. The stock’s 50-day moving average is $54.16 and its 200-day moving average is $51.84. The company has a market cap of $24.524 billion and a P/E ratio of 18.64.
TE Connectivity (NYSE:TEL) last released its earnings data on Wednesday, January 22nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts predict that TE Connectivity will post $3.67 earnings per share for the current fiscal year.
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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