$3.25 Billion in Sales Expected for TE Connectivity Ltd (TEL) This Quarter
Equities analysts expect TE Connectivity Ltd (NYSE:TEL) to announce sales of $3.25 billion for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for TE Connectivity’s earnings. TE Connectivity reported sales of $3.12 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.2%. The company is scheduled to issue its next earnings results on Wednesday, July 19th.
According to Zacks, analysts expect that TE Connectivity will report full year sales of $3.25 billion for the current fiscal year, with estimates ranging from $12.68 billion to $12.76 billion. For the next fiscal year, analysts anticipate that the company will report sales of $13.2 billion per share, with estimates ranging from $12.98 billion to $13.31 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow TE Connectivity.
TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 26th. The electronics maker reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.11. TE Connectivity had a return on equity of 19.26% and a net margin of 16.56%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter last year, the firm earned $0.90 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis.
A number of equities analysts recently weighed in on the company. Zacks Investment Research cut TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, February 28th. Stifel Nicolaus raised their price objective on TE Connectivity from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, January 26th. Royal Bank of Canada reissued an “outperform” rating and set a $82.00 price objective on shares of TE Connectivity in a report on Tuesday, March 28th. Cowen and Company assumed coverage on TE Connectivity in a report on Tuesday, March 21st. They set an “outperform” rating and a $90.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on TE Connectivity from $85.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $82.29.
TE Connectivity (NYSE:TEL) traded down 2.88% during midday trading on Wednesday, hitting $74.23. The stock had a trading volume of 298,205 shares. TE Connectivity has a 52 week low of $54.54 and a 52 week high of $79.69. The company has a 50-day moving average price of $74.74 and a 200-day moving average price of $72.05. The stock has a market cap of $26.35 billion, a P/E ratio of 12.75 and a beta of 1.16.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Friday, May 26th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.09%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Wednesday, May 24th. TE Connectivity’s dividend payout ratio (DPR) is presently 25.92%.
In related news, COO Joseph B. Donahue sold 6,832 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $74.87, for a total transaction of $511,511.84. Following the transaction, the chief operating officer now directly owns 47,509 shares in the company, valued at approximately $3,556,998.83. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John S. Jenkins sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $75.70, for a total value of $1,059,800.00. Following the transaction, the executive vice president now owns 8,823 shares in the company, valued at $667,901.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 437,209 shares of company stock worth $33,006,586. 1.49% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of TEL. Harbour Capital Advisors LLC bought a new position in TE Connectivity during the first quarter valued at about $444,000. HighTower Advisors LLC raised its stake in shares of TE Connectivity by 31.7% in the first quarter. HighTower Advisors LLC now owns 65,766 shares of the electronics maker’s stock worth $4,885,000 after buying an additional 15,816 shares in the last quarter. Saturna Capital CORP acquired a new stake in shares of TE Connectivity during the first quarter worth $254,000. Credit Suisse AG raised its stake in shares of TE Connectivity by 1.0% in the first quarter. Credit Suisse AG now owns 3,610,570 shares of the electronics maker’s stock worth $269,167,000 after buying an additional 34,487 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of TE Connectivity during the first quarter worth $1,847,000. Institutional investors and hedge funds own 91.08% of the company’s stock.
About TE Connectivity
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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