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 (EPS) guidance of 1.880-1.880 for the period, compared to the consensus 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.

TE Connectivity Trading Up 1.8 %

NYSE TEL traded up $2.60 during mid-day trading on Friday, hitting $150.02. The company’s stock had a trading volume of 1,510,973 shares, compared to its average volume of 1,847,821. The firm has a market capitalization of $45.59 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33. 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 stock’s fifty day simple moving average is $148.00 and its two-hundred day simple moving average is $148.39.

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

TE Connectivity declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

TEL has been the topic of several analyst reports. Wells Fargo & Company dropped 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. Truist Financial upped their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Vertical Research initiated coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price objective for the company. Robert W. Baird upped their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Bank of America decreased their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, TE Connectivity has an average rating of “Hold” and a consensus target price of $159.55.

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.