FY2022 EPS Estimates for TE Connectivity Ltd. (NYSE:TEL) Reduced by Analyst

TE Connectivity Ltd. (NYSE:TELGet Rating) – Jefferies Financial Group decreased their FY2022 EPS estimates for shares of TE Connectivity in a report issued on Thursday, July 21st. Jefferies Financial Group analyst D. Kelley now anticipates that the electronics maker will earn $7.11 per share for the year, down from their previous forecast of $7.12. The consensus estimate for TE Connectivity’s current full-year earnings is $7.13 per share. Jefferies Financial Group also issued estimates for TE Connectivity’s Q1 2023 earnings at $1.86 EPS, Q2 2023 earnings at $1.93 EPS, Q3 2023 earnings at $1.85 EPS, Q4 2023 earnings at $1.82 EPS and FY2023 earnings at $7.64 EPS.

A number of other analysts also recently issued reports on TEL. Cowen lowered their price target on shares of TE Connectivity from $160.00 to $125.00 and set a “market perform” rating on the stock in a report on Thursday, June 30th. StockNews.com raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a report on Tuesday, May 10th. The Goldman Sachs Group lowered their price target on shares of TE Connectivity from $169.00 to $160.00 in a report on Wednesday, June 1st. Cowen lowered their price target on shares of TE Connectivity from $160.00 to $125.00 and set a “market perform” rating on the stock in a report on Thursday, June 30th. Finally, Truist Financial lowered their price target on shares of TE Connectivity from $144.00 to $130.00 and set a “hold” rating on the stock in a report on Friday, April 8th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $152.55.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $123.05 on Monday. The company’s fifty day moving average price is $120.30 and its 200 day moving average price is $130.65. TE Connectivity has a 1 year low of $107.12 and a 1 year high of $166.44. The company has a market capitalization of $39.64 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.66 and a beta of 1.28. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.88 and a current ratio of 1.47.

TE Connectivity (NYSE:TELGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The electronics maker reported $1.81 EPS for the quarter, beating the consensus estimate of $1.71 by $0.10. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.81 billion. TE Connectivity had a net margin of 16.14% and a return on equity of 22.10%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.57 EPS.

Institutional Investors Weigh In On TE Connectivity

A number of hedge funds have recently modified their holdings of TEL. Larson Financial Group LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at about $25,000. AHL Investment Management Inc. acquired a new stake in TE Connectivity during the fourth quarter worth about $26,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in TE Connectivity by 135.6% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 238 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 137 shares during the last quarter. Shore Point Advisors LLC acquired a new stake in TE Connectivity during the fourth quarter worth about $30,000. Finally, Tcwp LLC acquired a new stake in TE Connectivity during the first quarter worth about $30,000. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Thomas J. Lynch sold 12,600 shares of the stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $126.86, for a total value of $1,598,436.00. Following the completion of the sale, the director now directly owns 11,750 shares in the company, valued at $1,490,605. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is currently owned by company insiders.

TE Connectivity announced that its board has initiated a stock buyback program on Friday, June 17th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the electronics maker to purchase up to 4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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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Earnings History and Estimates for TE Connectivity (NYSE:TEL)

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