Jefferies Financial Group Equities Analysts Cut Earnings Estimates for TE Connectivity Ltd (NYSE:TEL)

TE Connectivity Ltd (NYSE:TEL) – Equities research analysts at Jefferies Financial Group reduced their Q3 2019 earnings per share estimates for TE Connectivity in a report issued on Thursday, July 18th. Jefferies Financial Group analyst D. Kelley now anticipates that the electronics maker will post earnings of $1.41 per share for the quarter, down from their prior estimate of $1.44. Jefferies Financial Group also issued estimates for TE Connectivity’s Q3 2020 earnings at $1.56 EPS.

Several other brokerages have also issued reports on TEL. Zacks Investment Research upgraded shares of Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Monday, April 29th. Longbow Research lowered shares of TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 price objective on the stock. in a report on Monday, June 17th. Goldman Sachs Group set a €6.20 ($7.21) price objective on shares of Kloeckner & Co SE and gave the company a “buy” rating in a report on Thursday, June 20th. Cross Research lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, HC Wainwright restated a “buy” rating on shares of Ballard Power Systems in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $92.71.



NYSE TEL opened at $88.71 on Friday. TE Connectivity has a 52 week low of $69.84 and a 52 week high of $97.99. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 1.41. The business’s fifty day moving average is $92.37. The stock has a market cap of $29.88 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 1.54 and a beta of 1.20.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.42 EPS for the quarter, topping the consensus estimate of $1.27 by $0.15. TE Connectivity had a return on equity of 18.78% and a net margin of 20.17%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the previous year, the firm earned $1.42 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year.

In other TE Connectivity news, Director Thomas J. Lynch sold 68,516 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $95.36, for a total transaction of $6,533,685.76. Following the sale, the director now directly owns 234,398 shares in the company, valued at $22,352,193.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin N. Rock sold 26,803 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $95.04, for a total transaction of $2,547,357.12. Following the sale, the insider now owns 67,361 shares in the company, valued at $6,401,989.44. The disclosure for this sale can be found here. Insiders have sold 299,383 shares of company stock worth $28,368,769 over the last quarter. Insiders own 0.80% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of TE Connectivity during the fourth quarter worth about $280,716,000. FMR LLC grew its position in shares of TE Connectivity by 23.5% during the fourth quarter. FMR LLC now owns 6,558,221 shares of the electronics maker’s stock worth $495,997,000 after buying an additional 1,248,798 shares in the last quarter. Deutsche Bank AG grew its position in shares of TE Connectivity by 72.4% during the fourth quarter. Deutsche Bank AG now owns 2,474,404 shares of the electronics maker’s stock worth $187,134,000 after buying an additional 1,039,280 shares in the last quarter. Rivulet Capital LLC acquired a new position in shares of TE Connectivity during the first quarter worth about $69,308,000. Finally, Rockefeller Capital Management L.P. grew its position in shares of TE Connectivity by 854,554.5% during the first quarter. Rockefeller Capital Management L.P. now owns 846,108 shares of the electronics maker’s stock worth $68,324,000 after buying an additional 846,009 shares in the last quarter. Institutional investors own 91.06% of the company’s stock.

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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