Zacks: Brokerages Anticipate TE Connectivity Ltd. (TEL) Will Post Quarterly Sales of $3.69 Billion

Equities analysts expect TE Connectivity Ltd. (NYSE:TEL) to post $3.69 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for TE Connectivity’s earnings, with the highest sales estimate coming in at $3.74 billion and the lowest estimate coming in at $3.65 billion. TE Connectivity posted sales of $3.37 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.5%. The business is scheduled to report its next earnings results on Wednesday, July 25th.

According to Zacks, analysts expect that TE Connectivity will report full year sales of $14.63 billion for the current financial year, with estimates ranging from $14.60 billion to $14.71 billion. For the next financial year, analysts expect that the company will post sales of $15.37 billion per share, with estimates ranging from $15.13 billion to $15.76 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for TE Connectivity.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 25th. The electronics maker reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. TE Connectivity had a return on equity of 19.89% and a net margin of 9.39%. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the company earned $1.19 earnings per share. TE Connectivity’s revenue was up 16.1% on a year-over-year basis.

A number of research firms have weighed in on TEL. ValuEngine downgraded TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, May 1st. Robert W. Baird reissued a “buy” rating and issued a $123.00 target price on shares of TE Connectivity in a report on Tuesday, April 17th. Royal Bank of Canada reissued a “buy” rating and issued a $116.00 target price on shares of TE Connectivity in a report on Wednesday, January 24th. Oppenheimer began coverage on TE Connectivity in a report on Monday, March 26th. They issued an “outperform” rating and a $120.00 target price on the stock. Finally, Morgan Stanley increased their target price on TE Connectivity from $111.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, April 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. TE Connectivity has an average rating of “Buy” and a consensus target price of $139.25.

TE Connectivity traded up $0.12, reaching $95.43, during trading on Friday, Marketbeat Ratings reports. The stock had a trading volume of 1,128,940 shares, compared to its average volume of 1,778,955. TE Connectivity has a 52 week low of $94.62 and a 52 week high of $95.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.43. The company has a market cap of $33.22 billion, a price-to-earnings ratio of 19.76, a P/E/G ratio of 1.56 and a beta of 1.08.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Friday, May 25th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, May 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.84%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.40. TE Connectivity’s dividend payout ratio (DPR) is 33.13%.

In related news, SVP Robert J. Ott sold 10,700 shares of TE Connectivity stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $105.14, for a total transaction of $1,124,998.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven T. Merkt sold 10,684 shares of TE Connectivity stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $102.94, for a total value of $1,099,810.96. Following the sale, the insider now directly owns 1,983 shares in the company, valued at approximately $204,130.02. The disclosure for this sale can be found here. Insiders sold 97,567 shares of company stock worth $9,955,860 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bamco Inc. NY bought a new stake in TE Connectivity during the 1st quarter valued at approximately $108,000. Avestar Capital LLC purchased a new position in TE Connectivity during the 4th quarter valued at approximately $116,000. NuWave Investment Management LLC purchased a new position in TE Connectivity during the 4th quarter valued at approximately $192,000. Institutional & Family Asset Management LLC purchased a new position in TE Connectivity during the 1st quarter valued at approximately $196,000. Finally, Courier Capital LLC purchased a new position in TE Connectivity during the 4th quarter valued at approximately $207,000. 92.08% of the stock is currently owned by institutional investors.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia?Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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