TE Connectivity (NYSE:TEL) Issues Q1 Earnings Guidance

TE Connectivity (NYSE:TEL) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.88 for the period, compared to the consensus EPS estimate of $1.90. The company issued revenue guidance of ~$3.9 billion, compared to the consensus revenue estimate of $3.94 billion. TE Connectivity also updated its Q1 2024 guidance to 1.880-1.880 EPS.

TE Connectivity Stock Performance

Shares of TE Connectivity stock traded down $4.17 during trading on Wednesday, hitting $148.47. 636,762 shares of the stock were exchanged, compared to its average volume of 1,835,395. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average price of $148.08 and a 200-day moving average price of $148.37. The stock has a market capitalization of $45.47 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.92 and a beta of 1.33. TE Connectivity has a 1-year low of $116.01 and a 1-year high of $159.98.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TEL shares. Robert W. Baird upped their price objective on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Bank of America dropped their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Wells Fargo & Company dropped their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. Finally, Truist Financial lifted their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $161.82.

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.