Analysts Set Expectations for TE Connectivity Ltd.’s FY2017 Earnings (NYSE:TEL)
TE Connectivity Ltd. (NYSE:TEL) – SunTrust Banks raised their FY2017 earnings per share estimates for TE Connectivity in a research report issued on Wednesday. SunTrust Banks analyst W. Stein now forecasts that the electronics maker will post earnings of $4.74 per share for the year, up from their previous estimate of $4.62. SunTrust Banks also issued estimates for TE Connectivity’s Q4 2017 earnings at $1.16 EPS, Q1 2018 earnings at $1.13 EPS, Q2 2018 earnings at $1.23 EPS, Q3 2018 earnings at $1.33 EPS, Q4 2018 earnings at $1.33 EPS, FY2018 earnings at $5.02 EPS and Q1 2019 earnings at $1.27 EPS.
TEL has been the topic of a number of other research reports. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Friday, June 16th. Deutsche Bank AG increased their price target on shares of TE Connectivity from $75.00 to $82.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Royal Bank Of Canada increased their price target on shares of TE Connectivity from $86.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 27th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $95.00 price target (up previously from $90.00) on shares of TE Connectivity in a research note on Monday, June 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. TE Connectivity currently has an average rating of “Buy” and an average price target of $83.43.
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Shares of TE Connectivity (NYSE:TEL) opened at 80.65 on Thursday. The company has a 50-day moving average price of $79.84 and a 200 day moving average price of $75.95. TE Connectivity has a 12-month low of $57.85 and a 12-month high of $85.20. The firm has a market capitalization of $28.63 billion, a PE ratio of 13.86 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.07. TE Connectivity had a return on equity of 19.65% and a net margin of 16.40%. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the previous year, the firm posted $1.08 EPS. TE Connectivity’s revenue was up 7.9% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in TEL. Duncker Streett & Co. Inc. raised its position in shares of TE Connectivity by 17.8% in the second quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock valued at $104,000 after buying an additional 200 shares in the last quarter. First Command Bank raised its position in TE Connectivity by 19.6% in the second quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock valued at $106,000 after buying an additional 221 shares during the period. Daiwa SB Investments Ltd. acquired a new position in TE Connectivity during the first quarter valued at approximately $101,000. Guardian Life Insurance Co. of America raised its position in TE Connectivity by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,370 shares of the electronics maker’s stock valued at $102,000 after buying an additional 9 shares during the period. Finally, Portfolio Solutions LLC acquired a new position in TE Connectivity during the first quarter valued at approximately $104,000. 90.90% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Robert J. Ott sold 12,400 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $76.79, for a total transaction of $952,196.00. Following the completion of the sale, the senior vice president now directly owns 23,271 shares of the company’s stock, valued at approximately $1,786,980.09. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas J. Lynch sold 131,875 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $76.85, for a total transaction of $10,134,593.75. Following the sale, the insider now directly owns 450,694 shares of the company’s stock, valued at $34,635,833.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 514,184 shares of company stock valued at $40,256,534. Company insiders own 1.30% of the company’s stock.
TE Connectivity Company Profile
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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