$2.88 Billion in Sales Expected for TE Connectivity Ltd (NYSE:TEL) This Quarter
Equities analysts expect TE Connectivity Ltd (NYSE:TEL) to post $2.88 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for TE Connectivity’s earnings, with the lowest sales estimate coming in at $2.81 billion and the highest estimate coming in at $2.99 billion. TE Connectivity posted sales of $3.30 billion during the same quarter last year, which suggests a negative year over year growth rate of 12.7%. The firm is scheduled to announce its next earnings report before the market opens on Wednesday, October 28th.
On average, analysts expect that TE Connectivity will report full year sales of $11.78 billion for the current year, with estimates ranging from $11.71 billion to $11.90 billion. For the next fiscal year, analysts forecast that the firm will report sales of $12.74 billion, with estimates ranging from $12.24 billion to $13.17 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that follow TE Connectivity.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 29th. The electronics maker reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.18. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.40 billion. TE Connectivity had a positive return on equity of 15.06% and a negative net margin of 0.81%. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 EPS.
Shares of TEL stock opened at $107.76 on Friday. The stock has a market capitalization of $35.56 billion, a PE ratio of -347.61, a price-to-earnings-growth ratio of 2.40 and a beta of 1.38. TE Connectivity has a 52-week low of $48.62 and a 52-week high of $109.27. The stock’s 50-day moving average price is $99.52 and its 200 day moving average price is $84.77. The company has a quick ratio of 0.83, a current ratio of 1.43 and a debt-to-equity ratio of 0.37.
In related news, insider Kevin N. Rock sold 28,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $93.29, for a total value of $2,612,120.00. Following the sale, the insider now owns 82,473 shares of the company’s stock, valued at approximately $7,693,906.17. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Eric Resch sold 53,100 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $96.00, for a total value of $5,097,600.00. Following the completion of the sale, the senior vice president now directly owns 67,910 shares in the company, valued at approximately $6,519,360. The disclosure for this sale can be found here. Insiders have sold a total of 117,270 shares of company stock worth $11,147,920 in the last three months. Corporate insiders own 0.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Gemmer Asset Management LLC acquired a new stake in shares of TE Connectivity during the second quarter valued at about $26,000. Coastal Capital Group Inc. increased its stake in shares of TE Connectivity by 59.8% in the third quarter. Coastal Capital Group Inc. now owns 270 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 101 shares during the period. CX Institutional increased its stake in shares of TE Connectivity by 59.5% during the third quarter. CX Institutional now owns 362 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 135 shares during the period. Carroll Financial Associates Inc. increased its stake in shares of TE Connectivity by 55.5% during the third quarter. Carroll Financial Associates Inc. now owns 440 shares of the electronics maker’s stock valued at $43,000 after acquiring an additional 157 shares during the period. Finally, Balentine LLC acquired a new position in shares of TE Connectivity during the first quarter valued at approximately $44,000. 90.30% of the stock is currently owned by hedge funds and other institutional investors.
TE Connectivity Company Profile
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.
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