Today The TE Connectivity Ltd. (TEL) Issues FY17 Earnings Guidance

Today The TE Connectivity Ltd. (TEL) Issues FY17 Earnings Guidance

TE Connectivity Ltd. (NYSE:TEL) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.30-4.50 for the period, compared to the Thomson Reuters consensus estimate of $4.34. The company issued revenue guidance of $12.2-12.6 billion, compared to the consensus revenue estimate of $12.59 billion.TE Connectivity also updated its Q2 guidance to $1.05-1.09 EPS.

Several research analysts have recently issued reports on the company. Longbow Research raised TE Connectivity from a neutral rating to a buy rating in a research note on Thursday, January 12th. RBC Capital Markets reaffirmed an outperform rating and set a $66.00 price target (up previously from $65.00) on shares of TE Connectivity in a research note on Thursday, November 3rd. Royal Bank Of Canada lifted their price target on TE Connectivity from $65.00 to $66.00 and gave the stock an outperform rating in a research note on Thursday, November 3rd. Zacks Investment Research downgraded TE Connectivity from a hold rating to a sell rating in a research note on Monday, October 31st. Finally, Goldman Sachs Group, Inc. (The) downgraded TE Connectivity from a neutral rating to a sell rating and lifted their price target for the stock from $63.00 to $64.00 in a research note on Wednesday, January 4th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. TE Connectivity has an average rating of Hold and a consensus target price of $65.25.

TE Connectivity Ltd. (NYSE:TEL) opened at 71.68 on Wednesday. The firm has a market cap of $25.47 billion, a P/E ratio of 13.17 and a beta of 1.19. The company has a 50-day moving average of $69.82 and a 200 day moving average of $64.54. TE Connectivity Ltd. has a 52 week low of $51.70 and a 52 week high of $72.71.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 25th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.15. TE Connectivity had a return on equity of 18.39% and a net margin of 16.42%. The company earned $3.10 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the business posted $0.84 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts predict that TE Connectivity Ltd. will post $4.34 earnings per share for the current year.

In other news, CEO Thomas J. Lynch sold 123,633 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $68.87, for a total value of $8,514,604.71. Following the completion of the transaction, the chief executive officer now owns 462,388 shares of the company’s stock, valued at $31,844,661.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Joseph B. Donahue sold 32,188 shares of the stock in a transaction on Monday, November 14th. The stock was sold at an average price of $66.90, for a total value of $2,153,377.20. Following the completion of the transaction, the chief operating officer now directly owns 43,694 shares of the company’s stock, valued at approximately $2,923,128.60. The disclosure for this sale can be found here. In the last three months, insiders sold 551,906 shares of company stock valued at $36,784,784. Company insiders own 1.49% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of TE Connectivity by 6.6% in the second quarter. BlackRock Inc. now owns 772,552 shares of the company’s stock valued at $44,122,000 after buying an additional 47,793 shares in the last quarter. BlackRock Group LTD boosted its position in shares of TE Connectivity by 2.8% in the second quarter. BlackRock Group LTD now owns 2,852,680 shares of the company’s stock valued at $162,917,000 after buying an additional 78,915 shares in the last quarter. US Bancorp DE boosted its position in shares of TE Connectivity by 36.7% in the second quarter. US Bancorp DE now owns 113,485 shares of the company’s stock valued at $6,481,000 after buying an additional 30,481 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in shares of TE Connectivity by 15.2% in the second quarter. Wetherby Asset Management Inc. now owns 6,229 shares of the company’s stock valued at $356,000 after buying an additional 820 shares in the last quarter. Finally, Freestone Capital Holdings LLC boosted its position in shares of TE Connectivity by 0.8% in the second quarter. Freestone Capital Holdings LLC now owns 15,331 shares of the company’s stock valued at $876,000 after buying an additional 116 shares in the last quarter. 91.03% of the stock is owned by institutional investors.

About TE Connectivity

TE Connectivity Ltd. is a technology company, which designs and manufactures connectivity and sensors solutions. The Company operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Company’s segments manufacture and distribute its products and solutions to a range of end markets.

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