Zacks: Brokerages Anticipate TE Connectivity Ltd. (NYSE:TEL) Will Announce Quarterly Sales of $3.71 Billion

Wall Street analysts expect TE Connectivity Ltd. (NYSE:TEL) to post sales of $3.71 billion for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for TE Connectivity’s earnings, with the lowest sales estimate coming in at $3.70 billion and the highest estimate coming in at $3.74 billion. TE Connectivity reported sales of $3.52 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.4%. The firm is scheduled to issue its next earnings report on Wednesday, January 26th.

According to Zacks, analysts expect that TE Connectivity will report full-year sales of $15.73 billion for the current year, with estimates ranging from $15.52 billion to $15.96 billion. For the next year, analysts forecast that the business will post sales of $16.87 billion, with estimates ranging from $16.43 billion to $17.53 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover TE Connectivity.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, October 27th. The electronics maker reported $1.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.05. The company had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.77 billion. TE Connectivity had a net margin of 15.15% and a return on equity of 21.58%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 EPS.

A number of equities research analysts have issued reports on the stock. Evercore ISI raised shares of TE Connectivity from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $160.00 to $180.00 in a report on Wednesday, October 20th. Truist increased their target price on TE Connectivity from $139.00 to $149.00 and gave the company a “hold” rating in a research note on Thursday, July 29th. Zacks Investment Research downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $161.00 target price on the stock. in a research note on Tuesday, August 17th. Robert W. Baird increased their target price on TE Connectivity from $145.00 to $158.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Finally, Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating and increased their target price for the company from $148.00 to $190.00 in a research note on Tuesday, November 9th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $155.47.

TE Connectivity stock traded down $0.39 during trading hours on Thursday, reaching $160.36. The stock had a trading volume of 1,678,369 shares, compared to its average volume of 1,574,983. The stock has a market cap of $52.33 billion, a PE ratio of 23.62, a PEG ratio of 2.24 and a beta of 1.36. TE Connectivity has a 52 week low of $113.00 and a 52 week high of $166.44. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.56 and a quick ratio of 1.02. The company has a fifty day simple moving average of $150.15 and a 200-day simple moving average of $144.01.

In related news, SVP Robert J. Ott sold 8,737 shares of the firm’s stock in a transaction on Wednesday, November 3rd. The stock was sold at an average price of $153.46, for a total value of $1,340,780.02. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.79% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Bank of Montreal Can raised its holdings in TE Connectivity by 6.2% during the second quarter. Bank of Montreal Can now owns 863,919 shares of the electronics maker’s stock valued at $116,934,000 after acquiring an additional 50,675 shares during the period. Mn Services Vermogensbeheer B.V. bought a new stake in TE Connectivity during the second quarter valued at about $27,654,000. Franklin Resources Inc. raised its holdings in TE Connectivity by 0.4% during the second quarter. Franklin Resources Inc. now owns 2,080,653 shares of the electronics maker’s stock valued at $281,326,000 after acquiring an additional 8,227 shares during the period. Goelzer Investment Management Inc. raised its holdings in TE Connectivity by 0.9% during the second quarter. Goelzer Investment Management Inc. now owns 81,160 shares of the electronics maker’s stock valued at $10,974,000 after acquiring an additional 752 shares during the period. Finally, Eaton Vance Management raised its holdings in TE Connectivity by 946.5% during the first quarter. Eaton Vance Management now owns 671,648 shares of the electronics maker’s stock valued at $86,716,000 after acquiring an additional 607,468 shares during the period. 89.60% of the stock is currently owned by institutional investors and hedge funds.

About TE Connectivity

TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.

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