TE Connectivity (NYSE:TEL – Get Free Report) announced its quarterly earnings results on Wednesday. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03, Briefing.com reports. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the firm posted $1.65 EPS. TE Connectivity’s revenue for the quarter was down 4.6% compared to the same quarter last year. TE Connectivity updated its Q3 2024 guidance to 1.850-1.850 EPS and its Q3 guidance to $1.85 EPS.
TE Connectivity Price Performance
TEL opened at $140.21 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average of $142.55 and a 200 day moving average of $136.17. TE Connectivity has a 52-week low of $115.00 and a 52-week high of $147.98. The stock has a market cap of $43.58 billion, a P/E ratio of 12.83, a PEG ratio of 2.06 and a beta of 1.39.
TE Connectivity Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio is currently 21.59%.
Analysts Set New Price Targets
Get Our Latest Analysis on TEL
Insider Transactions at TE Connectivity
In other news, insider Steven T. Merkt sold 99,777 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.86% of the company’s stock.
TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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