TE Connectivity Ltd. (TEL) to Release Earnings on Wednesday
TE Connectivity Ltd. (NYSE:TEL) is set to issue its quarterly earnings data before the market opens on Wednesday, July 26th. Analysts expect the company to announce earnings of $1.17 per share for the quarter. TE Connectivity has set its Q3 guidance at $1.14-1.18 EPS and its FY17 guidance at $4.58-4.66 EPS.
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, beating analysts’ consensus estimates of $1.08 by $0.11. TE Connectivity had a return on equity of 19.65% and a net margin of 16.40%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the company earned $0.90 earnings per share. TE Connectivity’s revenue was up 9.3% on a year-over-year basis. On average, analysts expect TE Connectivity to post $4.65 EPS for the current fiscal year and $4.93 EPS for the next fiscal year.
TE Connectivity Ltd. (NYSE TEL) opened at 81.80 on Wednesday. The company has a market cap of $29.04 billion, a P/E ratio of 14.05 and a beta of 1.06. The firm has a 50-day moving average price of $79.36 and a 200-day moving average price of $75.45. TE Connectivity Ltd. has a 12-month low of $57.85 and a 12-month high of $81.86.
Several brokerages have recently issued reports on TEL. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Monday, May 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $86.00 price objective (up previously from $82.00) on shares of TE Connectivity in a report on Saturday, April 29th. Deutsche Bank AG boosted their price objective on TE Connectivity from $75.00 to $82.00 and gave the company a “hold” rating in a report on Friday, April 28th. Finally, Cowen and Company began coverage on TE Connectivity in a report on Tuesday, March 21st. They issued an “outperform” rating and a $90.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $83.43.
In other TE Connectivity news, insider Thomas J. Lynch sold 186,034 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $78.65, for a total transaction of $14,631,574.10. Following the completion of the sale, the insider now directly owns 504,885 shares in the company, valued at approximately $39,709,205.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Robert J. Ott sold 12,400 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $76.79, for a total value of $952,196.00. Following the sale, the senior vice president now owns 23,271 shares of the company’s stock, valued at $1,786,980.09. The disclosure for this sale can be found here. Insiders sold a total of 514,184 shares of company stock valued at $40,256,534 in the last ninety days. 1.49% of the stock is currently owned by insiders.
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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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