TE Connectivity (TEL) Projected to Post Quarterly Earnings on Wednesday

TE Connectivity (NYSE:TEL - Get Free Report) is expected to be releasing its earnings data before the market opens on Wednesday, January 22nd. Analysts expect the company to announce 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.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting analysts' consensus estimates of $1.95. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company's revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $1.78 EPS. 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 Price Performance

Shares of TEL traded up $0.77 during trading hours on Wednesday, hitting $143.67. 2,116,498 shares of the company were exchanged, compared to its average volume of 1,405,931. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The company has a market cap of $42.98 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 2.04 and a beta of 1.32. The firm's fifty day moving average is $148.33 and its 200 day moving average is $148.88.

TE Connectivity announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

TEL has been the subject of several analyst reports. Hsbc Global Res cut shares of TE Connectivity from a "hold" rating to a "moderate sell" rating in a research report on Thursday, October 31st. Bank of America lowered their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. StockNews.com raised TE Connectivity from a "buy" rating to a "strong-buy" rating in a report on Wednesday, December 18th. Wells Fargo & Company lowered their price target 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, The Goldman Sachs Group decreased their target price on TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.