Analysts Expect TE Connectivity Ltd (NYSE:TEL) Will Post Quarterly Sales of $3.27 Billion

Wall Street brokerages expect TE Connectivity Ltd (NYSE:TEL) to report $3.27 billion in sales for the current quarter, according to Zacks. Six analysts have provided estimates for TE Connectivity’s earnings, with the lowest sales estimate coming in at $3.25 billion and the highest estimate coming in at $3.33 billion. TE Connectivity posted sales of $3.51 billion during the same quarter last year, which suggests a negative year over year growth rate of 6.8%. The business is expected to report its next quarterly earnings report on Wednesday, October 30th.

On average, analysts expect that TE Connectivity will report full-year sales of $13.42 billion for the current year, with estimates ranging from $13.40 billion to $13.47 billion. For the next fiscal year, analysts expect that the firm will report sales of $13.67 billion, with estimates ranging from $13.37 billion to $14.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover TE Connectivity.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.08. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.43 billion. TE Connectivity had a return on equity of 18.33% and a net margin of 22.94%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 EPS.

A number of research firms recently commented on TEL. Goldman Sachs Group upgraded TE Connectivity from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $92.00 to $105.00 in a research report on Thursday, June 20th. Wells Fargo & Co cut TE Connectivity from an “outperform” rating to a “market perform” rating in a report on Thursday, July 25th. Cross Research cut TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Morgan Stanley lowered their price target on TE Connectivity from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, HC Wainwright restated a “sell” rating on shares of TE Connectivity in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. TE Connectivity currently has an average rating of “Hold” and an average price target of $92.21.

In related news, Director Thomas J. Lynch sold 124,400 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $93.41, for a total transaction of $11,620,204.00. Following the transaction, the director now directly owns 290,316 shares of the company’s stock, valued at approximately $27,118,417.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven T. Merkt sold 65,650 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $93.55, for a total value of $6,141,557.50. Following the transaction, the insider now directly owns 89,854 shares in the company, valued at $8,405,841.70. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Weaver Consulting Group acquired a new position in shares of TE Connectivity in the 1st quarter valued at approximately $28,000. Thor Advisors LLC acquired a new position in shares of TE Connectivity in the 1st quarter valued at approximately $26,000. Synovus Financial Corp raised its position in shares of TE Connectivity by 97.2% in the 1st quarter. Synovus Financial Corp now owns 355 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 175 shares in the last quarter. CX Institutional raised its position in shares of TE Connectivity by 220.2% in the 2nd quarter. CX Institutional now owns 365 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 251 shares in the last quarter. Finally, First Interstate Bank acquired a new position in shares of TE Connectivity in the 1st quarter valued at approximately $32,000. 91.55% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity stock traded up $2.70 during midday trading on Friday, reaching $89.99. 938,800 shares of the company were exchanged, compared to its average volume of 1,760,729. The company has a market capitalization of $29.56 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 1.49 and a beta of 1.20. The firm’s 50-day simple moving average is $91.99 and its 200-day simple moving average is $88.10. TE Connectivity has a 1 year low of $69.84 and a 1 year high of $97.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.94 and a current ratio of 1.47.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, August 22nd. TE Connectivity’s dividend payout ratio (DPR) is 32.80%.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia–Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

Further Reading: Stop Order Uses For Individual Investors

Get a free copy of the Zacks research report on TE Connectivity (TEL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for TE Connectivity (NYSE:TEL)

Receive News & Ratings for TE Connectivity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity and related companies with MarketBeat.com's FREE daily email newsletter.