TE Connectivity (NYSE:TEL) Announces Quarterly Earnings Results, Beats Estimates By $0.18 EPS
TE Connectivity (NYSE:TEL) released its quarterly earnings data on Wednesday. The electronics maker reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.18, MarketWatch Earnings reports. TE Connectivity had a positive return on equity of 15.06% and a negative net margin of 0.81%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the business posted $1.50 EPS. TE Connectivity’s quarterly revenue was down 24.8% on a year-over-year basis. TE Connectivity updated its Q4 2020
Pre-Market guidance to EPS.
Shares of NYSE:TEL traded down $1.25 during midday trading on Friday, reaching $87.95. The company’s stock had a trading volume of 18,749 shares, compared to its average volume of 1,606,495. TE Connectivity has a 1 year low of $48.62 and a 1 year high of $101.00. The firm has a market cap of $29.01 billion, a price-to-earnings ratio of -285.71, a price-to-earnings-growth ratio of 2.31 and a beta of 1.32. The company has a quick ratio of 0.94, a current ratio of 1.43 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average price of $82.21 and a 200 day moving average price of $80.32.
TEL has been the subject of several research analyst reports. Wells Fargo & Co raised their price objective on TE Connectivity from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley raised their price target on TE Connectivity from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Thursday, July 16th. SunTrust Banks raised their price target on TE Connectivity from $73.00 to $94.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, Cfra dropped their price target on TE Connectivity from $108.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $95.71.
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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