TE Connectivity (NYSE:TEL) Issues Q1 Earnings Guidance

TE Connectivity (NYSE:TEL) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.88 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of TEL traded down $4.17 on Wednesday, hitting $148.47. The company’s stock had a trading volume of 636,762 shares, compared to its average volume of 1,835,395. The company has a market capitalization of $45.47 billion, a PE ratio of 13.97, a PEG ratio of 1.92 and a beta of 1.33. TE Connectivity has a fifty-two week low of $116.01 and a fifty-two week high of $159.98. The company has a 50 day moving average price of $148.08 and a 200 day moving average price of $148.37. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99.

Wall Street Analysts Forecast Growth

TEL has been the topic of several research reports. The Goldman Sachs Group reduced their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Bank of America cut their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. StockNews.com began coverage on shares of TE Connectivity in a research note on Wednesday, October 23rd. They issued a “buy” rating on the stock. Finally, Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, TE Connectivity presently has an average rating of “Hold” and an average target price of $161.82.

About TE Connectivity

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.