Zacks: Analysts Expect TE Connectivity Ltd (TEL) Will Post Quarterly Sales of $3.37 Billion
Analysts predict that TE Connectivity Ltd (NYSE:TEL) will report sales of $3.37 billion for the current quarter, according to Zacks. Five analysts have made estimates for TE Connectivity’s earnings, with the highest sales estimate coming in at $3.39 billion and the lowest estimate coming in at $3.34 billion. TE Connectivity reported sales of $3.06 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 10.1%. The company is scheduled to issue its next earnings report before the market opens on Wednesday, January 24th.
On average, analysts expect that TE Connectivity will report full year sales of $3.37 billion for the current fiscal year, with estimates ranging from $13.90 billion to $14.06 billion. For the next financial year, analysts anticipate that the company will post sales of $14.60 billion per share, with estimates ranging from $14.44 billion to $14.84 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover TE Connectivity.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.09. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the company posted $1.22 EPS. The company’s revenue was up 3.7% on a year-over-year basis.
Shares of TE Connectivity (NYSE:TEL) traded up $0.91 on Friday, hitting $100.17. 1,500,000 shares of the stock were exchanged, compared to its average volume of 1,640,000. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.54. TE Connectivity has a fifty-two week low of $67.80 and a fifty-two week high of $100.70. The stock has a market cap of $35,220.00, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.73 and a beta of 1.08.
TE Connectivity announced that its Board of Directors has initiated a share buyback program on Friday, December 8th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the electronics maker to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other TE Connectivity news, insider Thomas J. Lynch sold 76,184 shares of TE Connectivity stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $94.74, for a total value of $7,217,672.16. Following the transaction, the insider now owns 254,689 shares in the company, valued at approximately $24,129,235.86. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas J. Lynch sold 130,617 shares of TE Connectivity stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $91.29, for a total transaction of $11,924,025.93. Following the completion of the transaction, the insider now owns 429,500 shares in the company, valued at approximately $39,209,055. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 705,373 shares of company stock worth $65,870,755. 1.30% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in TEL. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of TE Connectivity by 38.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock valued at $109,000 after purchasing an additional 384 shares during the last quarter. AllSquare Wealth Management LLC acquired a new position in shares of TE Connectivity in the 3rd quarter valued at $113,000. Acrospire Investment Management LLC acquired a new position in shares of TE Connectivity in the 2nd quarter valued at $126,000. Harfst & Associates Inc. boosted its holdings in shares of TE Connectivity by 46.2% in the 2nd quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock valued at $135,000 after purchasing an additional 544 shares during the last quarter. Finally, Robecosam AG acquired a new position in shares of TE Connectivity in the 3rd quarter valued at $155,000. Institutional investors own 90.02% of the company’s stock.
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TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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