Equities Analysts Lower Earnings Estimates for TE Connectivity Ltd (TEL)

Equities Analysts Lower Earnings Estimates for TE Connectivity Ltd (TEL)

TE Connectivity Ltd (NYSE:TEL) – Investment analysts at Oppenheimer cut their Q2 2019 earnings per share estimates for shares of TE Connectivity in a report issued on Wednesday, January 23rd. Oppenheimer analyst C. Glynn now forecasts that the electronics maker will post earnings of $1.27 per share for the quarter, down from their prior estimate of $1.40. Oppenheimer also issued estimates for TE Connectivity’s Q3 2019 earnings at $1.41 EPS, Q4 2019 earnings at $1.48 EPS, FY2019 earnings at $5.45 EPS and FY2020 earnings at $6.10 EPS.

Several other research firms have also issued reports on TEL. Robert W. Baird lowered shares of TE Connectivity from an “outperform” rating to a “neutral” rating in a research report on Monday, October 1st. Morgan Stanley decreased their price objective on shares of TE Connectivity from $107.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, October 3rd. ValuEngine downgraded shares of TE Connectivity from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Macquarie started coverage on shares of TE Connectivity in a report on Monday, October 8th. They issued an “outperform” rating on the stock. Finally, Zacks Investment Research upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $97.78.

NYSE TEL opened at $80.15 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.55. TE Connectivity has a 1 year low of $69.84 and a 1 year high of $106.00. The firm has a market cap of $26.71 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.28 and a beta of 1.01.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 23rd. The electronics maker reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.01. TE Connectivity had a net margin of 20.06% and a return on equity of 19.22%. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the firm posted $1.40 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year.

TE Connectivity declared that its board has approved a stock buyback plan on Friday, December 14th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Several large investors have recently added to or reduced their stakes in TEL. FMR LLC grew its stake in shares of TE Connectivity by 7.6% in the second quarter. FMR LLC now owns 4,943,198 shares of the electronics maker’s stock valued at $445,184,000 after acquiring an additional 347,329 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of TE Connectivity by 1,066.6% in the second quarter. Advisors Asset Management Inc. now owns 7,233 shares of the electronics maker’s stock valued at $498,000 after acquiring an additional 6,613 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of TE Connectivity in the second quarter valued at about $1,807,000. Schroder Investment Management Group grew its stake in shares of TE Connectivity by 47.4% in the second quarter. Schroder Investment Management Group now owns 287,265 shares of the electronics maker’s stock valued at $25,695,000 after acquiring an additional 92,384 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of TE Connectivity by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 2,781,597 shares of the electronics maker’s stock valued at $250,509,000 after acquiring an additional 58,771 shares in the last quarter. Hedge funds and other institutional investors own 91.57% of the company’s stock.

About TE Connectivity

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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