TE Connectivity (NYSE:TEL) Releases Q1 2024 Earnings Guidance

TE Connectivity (NYSE:TEL) issued an update on its first quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.880-1.880 for the period, compared to the consensus earnings per share estimate of 1.900. The company issued revenue guidance of $3.9 billion-$3.9 billion, compared to the consensus revenue estimate of $3.9 billion. TE Connectivity also updated its Q1 guidance to $1.88 EPS.

Analysts Set New Price Targets

Several brokerages recently commented on TEL. Truist Financial boosted their target price on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. StockNews.com assumed coverage on TE Connectivity in a research note on Thursday. They issued a “buy” rating on the stock. Vertical Research assumed coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price on the stock. Finally, Robert W. Baird upped their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Stock Up 1.8 %

Shares of TE Connectivity stock traded up $2.60 on Friday, hitting $150.02. 1,510,973 shares of the company traded hands, compared to its average volume of 1,847,821. The company has a quick ratio of 0.99, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity has a 12-month low of $122.30 and a 12-month high of $159.98. The company has a 50-day moving average price of $148.00 and a 200 day moving average price of $148.39. The company has a market cap of $45.59 billion, a PE ratio of 14.60, a PEG ratio of 1.95 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same period in the previous year, the company earned $1.78 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. Sell-side analysts predict that TE Connectivity will post 8.15 earnings per share for the current year.

TE Connectivity declared that its board has authorized a stock buyback plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.