TE Connectivity (TEL) Expected to Announce Quarterly Earnings on Wednesday

TE Connectivity (NYSE:TEL) is expected to post its quarterly earnings results before the market opens on Wednesday, January 22nd. Analysts expect TE Connectivity to post earnings of $1.89 per share and revenue of $3,916,310.63 billion for the quarter. TE Connectivity has set its Q1 2024 guidance at 1.880-1.880 EPS and its Q1 guidance at $1.88 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) 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 company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts expect TE Connectivity to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

TE Connectivity Trading Up 1.8 %

Shares of NYSE:TEL opened at $146.29 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $147.70 and its 200 day moving average price is $148.78. The company has a market cap of $43.76 billion, a PE ratio of 14.24, a P/E/G ratio of 1.91 and a beta of 1.32. TE Connectivity has a fifty-two week low of $128.91 and a fifty-two week high of $159.98.

TE Connectivity declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TEL. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lowered their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Bank of America cut their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company cut their price objective on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a report on Monday, December 16th. Finally, HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and an average price target of $160.70.

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.