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

TE Connectivity (NYSE:TEL) issued an update on its first quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.880-1.880 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

A number of research analysts have commented on TEL shares. Vertical Research assumed coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price target on the stock. HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research report on Thursday. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Wells Fargo & Company decreased their price objective on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. Finally, StockNews.com started coverage on TE Connectivity in a report on Thursday. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $159.55.

TE Connectivity Trading Up 1.8 %

NYSE:TEL traded up $2.60 during trading hours on Friday, hitting $150.02. The company had a trading volume of 1,510,973 shares, compared to its average volume of 1,847,821. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 0.99. TE Connectivity has a 52 week low of $122.30 and a 52 week high of $159.98. The company has a market capitalization of $45.59 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33. The stock has a 50-day moving average price of $148.00 and a 200 day moving average price of $148.39.

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

TE Connectivity announced that its Board of Directors has authorized a stock buyback program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership 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.