TE Connectivity (NYSE:TEL) Releases Q1 2024 Earnings Guidance

TE Connectivity (NYSE:TEL) updated its first quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.880-1.880 for the period, compared to the consensus EPS estimate of 1.900. The company issued revenue guidance of $3.9 billion-$3.9 billion, compared to the consensus revenue estimate of $3.9 billion. TE Connectivity also updated its Q1 guidance to $1.88 EPS.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. Vertical Research assumed coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price for the company. Bank of America decreased their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Truist Financial lifted their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Robert W. Baird lifted their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $161.82.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $152.90 on Wednesday. The firm has a 50 day moving average of $148.08 and a 200 day moving average of $148.37. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $46.82 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.92 and a beta of 1.33. TE Connectivity has a 12-month low of $116.01 and a 12-month high of $159.98.

About TE Connectivity

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.