$1.16 EPS Expected for TE Connectivity Ltd. (TEL) This Quarter
Analysts forecast that TE Connectivity Ltd. (NYSE:TEL) will announce earnings per share (EPS) of $1.16 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for TE Connectivity’s earnings, with estimates ranging from $1.15 to $1.19. TE Connectivity reported earnings of $1.27 per share in the same quarter last year, which indicates a negative year over year growth rate of 8.7%. The business is expected to issue its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that TE Connectivity will report full year earnings of $4.75 per share for the current fiscal year, with EPS estimates ranging from $4.73 to $4.78. For the next financial year, analysts anticipate that the firm will post earnings of $5.08 per share, with EPS estimates ranging from $4.85 to $5.38. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow TE Connectivity.
TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.28 billion. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 earnings per share.
TEL has been the topic of several research reports. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research report on Monday, September 4th. Royal Bank Of Canada raised their price objective on shares of TE Connectivity from $86.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 27th. Morgan Stanley reissued an “overweight” rating and set a $89.00 price objective on shares of TE Connectivity in a research report on Wednesday, September 20th. BidaskClub downgraded shares of TE Connectivity from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Finally, Cowen and Company reissued a “buy” rating and set a $95.00 price objective on shares of TE Connectivity in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $84.14.
ILLEGAL ACTIVITY NOTICE: This report was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright and trademark laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/10/12/1-16-eps-expected-for-te-connectivity-ltd-tel-this-quarter.html.
In other news, insider Thomas J. Lynch sold 186,033 shares of TE Connectivity stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $79.75, for a total value of $14,836,131.75. Following the sale, the insider now owns 504,884 shares of the company’s stock, valued at $40,264,499. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mario Calastri sold 6,000 shares of TE Connectivity stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $80.23, for a total transaction of $481,380.00. Following the completion of the sale, the senior vice president now directly owns 23,078 shares in the company, valued at approximately $1,851,547.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 693,747 shares of company stock worth $55,780,069. Insiders own 1.49% of the company’s stock.
Several large investors have recently modified their holdings of TEL. Victory Capital Management Inc. boosted its holdings in shares of TE Connectivity by 6.5% in the first quarter. Victory Capital Management Inc. now owns 8,213 shares of the electronics maker’s stock valued at $612,000 after acquiring an additional 499 shares in the last quarter. AXA purchased a new stake in shares of TE Connectivity in the first quarter valued at about $253,000. Wellington Management Group LLP boosted its holdings in shares of TE Connectivity by 94.6% in the first quarter. Wellington Management Group LLP now owns 139,318 shares of the electronics maker’s stock valued at $10,387,000 after acquiring an additional 67,715 shares in the last quarter. Clark Capital Management Group Inc. purchased a new stake in shares of TE Connectivity in the first quarter valued at about $7,065,000. Finally, Stephens Inc. AR purchased a new stake in shares of TE Connectivity in the first quarter valued at about $2,242,000. 90.08% of the stock is currently owned by institutional investors and hedge funds.
TE Connectivity (NYSE:TEL) opened at 86.75 on Thursday. The company’s 50-day moving average is $81.80 and its 200-day moving average is $78.74. TE Connectivity has a 52-week low of $60.59 and a 52-week high of $86.77. The firm has a market capitalization of $30.66 billion, a P/E ratio of 18.42 and a beta of 1.08.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for TE Connectivity Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.