TE Connectivity (NYSE:TEL) Updates FY19 Earnings Guidance

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TE Connectivity (NYSE:TEL) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $5.47-5.53 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.57. The company issued revenue guidance of $13.35-13.45 billion, compared to the consensus revenue estimate of $13.64 billion.TE Connectivity also updated its FY 2019 guidance to $5.47-5.53 EPS.

Shares of TEL traded up $1.70 during midday trading on Friday, reaching $93.65. The stock had a trading volume of 2,190,440 shares, compared to its average volume of 1,309,400. The business has a 50-day moving average price of $92.89. TE Connectivity has a 12-month low of $69.84 and a 12-month high of $97.99. The company has a quick ratio of 0.90, a current ratio of 1.47 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $31.23 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 1.62 and a beta of 1.20.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.08. TE Connectivity had a return on equity of 18.33% and a net margin of 22.94%. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the prior year, the business earned $1.43 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities analysts forecast that TE Connectivity will post 5.5 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on the company. Longbow Research lowered TE Connectivity from a buy rating to a neutral rating and set a $90.66 target price for the company. in a research note on Monday, June 17th. Cross Research lowered TE Connectivity from a buy rating to a hold rating in a research note on Tuesday, July 16th. Wells Fargo & Co reissued a buy rating and issued a $125.00 target price on shares of Tractor Supply in a research note on Thursday. HC Wainwright reissued a buy rating on shares of Ballard Power Systems in a research note on Friday, May 3rd. Finally, Zacks Investment Research raised Triple-S Management from a hold rating to a buy rating and set a $26.00 target price for the company in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. TE Connectivity presently has a consensus rating of Hold and an average price target of $92.21.

In other TE Connectivity news, insider Terrence R. Curtin sold 128,750 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $94.20, for a total transaction of $12,128,250.00. Following the completion of the transaction, the insider now owns 213,719 shares of the company’s stock, valued at approximately $20,132,329.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Lynch sold 68,516 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $95.36, for a total value of $6,533,685.76. Following the transaction, the director now directly owns 234,398 shares of the company’s stock, valued at approximately $22,352,193.28. The disclosure for this sale can be found here. In the last three months, insiders sold 299,383 shares of company stock valued at $28,368,769. 0.80% of the stock is currently owned by corporate insiders.

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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Earnings History and Estimates for TE Connectivity (NYSE:TEL)

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