TE Connectivity Ltd. Expected to Earn Q4 2022 Earnings of $1.86 Per Share (NYSE:TEL)

TE Connectivity Ltd. (NYSE:TEL – Get Rating) – Stock analysts at Oppenheimer raised their Q4 2022 earnings per share (EPS) estimates for TE Connectivity in a report issued on Wednesday, July 27th. Oppenheimer analyst C. Glynn now anticipates that the electronics maker will post earnings of $1.86 per share for the quarter, up from their prior forecast of $1.83. The consensus estimate for TE Connectivity’s current full-year earnings is $7.12 per share.

A number of other analysts have also recently weighed in on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $134.00 price target (down previously from $166.00) on shares of TE Connectivity in a research report on Thursday, July 14th. Truist Financial cut their price objective on TE Connectivity from $144.00 to $130.00 and set a “hold” rating for the company in a research report on Friday, April 8th. StockNews.com raised TE Connectivity from a “hold” rating to a “buy” rating in a research report on Tuesday, May 10th. Morgan Stanley cut their price objective on TE Connectivity from $147.00 to $140.00 and set an “equal weight” rating for the company in a research report on Friday, June 10th. Finally, Cowen cut their price objective on TE Connectivity from $160.00 to $125.00 and set a “market perform” rating for the company in a research report on Thursday, June 30th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $148.00.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $133.73 on Monday. TE Connectivity has a fifty-two week low of $107.12 and a fifty-two week high of $166.44. The business has a 50-day moving average of $120.67 and a two-hundred day moving average of $129.54. The stock has a market capitalization of $43.08 billion, a P/E ratio of 17.67, a P/E/G ratio of 1.66 and a beta of 1.28. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.47 and a quick ratio of 0.88.

TE Connectivity (NYSE:TEL – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The electronics maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. TE Connectivity had a return on equity of 22.10% and a net margin of 16.14%. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the previous year, the firm earned $1.79 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year.

TE Connectivity announced that its board has authorized a stock repurchase plan on Friday, June 17th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at TE Connectivity

In related news, Director Thomas J. Lynch sold 12,600 shares of the business’s stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $126.86, for a total transaction of $1,598,436.00. Following the transaction, the director now directly owns 11,750 shares in the company, valued at $1,490,605. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On TE Connectivity

Several institutional investors and hedge funds have recently added to or reduced their stakes in TEL. Larson Financial Group LLC bought a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $25,000. AHL Investment Management Inc. bought a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $26,000. Shore Point Advisors LLC bought a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $30,000. Glassman Wealth Services bought a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $31,000. Finally, Alpha Paradigm Partners LLC bought a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $35,000. 91.16% of the stock is currently owned by institutional investors.

TE Connectivity Company Profile

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TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor 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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