TE Connectivity (NYSE:TEL) Releases Earnings Results, Beats Estimates By $0.05 EPS

TE Connectivity (NYSE:TEL) announced its earnings results on Wednesday. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05, Briefing.com reports. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the firm posted $1.77 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. TE Connectivity updated its Q4 2024 guidance to 1.940-1.940 EPS and its Q4 guidance to $1.94 EPS.

TE Connectivity Price Performance

Shares of NYSE TEL traded down $2.31 during trading on Thursday, hitting $154.54. 2,566,137 shares of the company were exchanged, compared to its average volume of 1,974,361. The company has a market cap of $47.32 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 2.07 and a beta of 1.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. TE Connectivity has a 1 year low of $115.00 and a 1 year high of $159.98. The firm’s fifty day moving average price is $151.06 and its 200 day moving average price is $144.88.

Insider Transactions at TE Connectivity

In other news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the transaction, the insider now owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares of the company’s stock, valued at approximately $837,196.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The disclosure for this sale can be found here. Insiders sold 20,794 shares of company stock valued at $3,102,206 in the last 90 days. 0.86% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Bank of America lifted their price objective on shares of TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Jefferies Financial Group initiated coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective on the stock. Robert W. Baird lifted their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $158.45.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.