TE Connectivity Ltd (TEL) reported quarterly earnings results on Wednesday, Jul-20-2016. The company said it had a profit of $1.08 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $1.03. The company posted revenue of $3121.00 million in the period, compared to analysts expectations of $3128.52 million. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS.
Many Wall Street Analysts have commented on TE Connectivity Ltd. Shares were Reiterated by RBC Capital Mkts on Jul 1, 2016 to “Outperform” and Lowered the Price Target to $ 63 from a previous price target of $66 .TE Connectivity Ltd was Downgraded by Goldman to ” Neutral” on May 9, 2016.
TE Connectivity Ltd closed down -0.35 points or -0.58% at $59.71 with 16,91,205 shares getting traded on Monday. Post opening the session at $59.84, the shares hit an intraday low of $59.66 and an intraday high of $60.37 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jun 14, 2016, Thomas J Lynch (Chairman & CEO) sold 87,958 shares at $61.45 per share price. According to the SEC, on Mar 11, 2016, Terrence R Curtin (President & Director) sold 369 shares at $59.13 per share price. On Mar 1, 2016, Robert W. Hau (EVP & Chief Financial Officer) sold 36,450 shares at $57.56 per share price, according to the Form-4 filing with the securities and exchange commission.
TE Connectivity Ltd. (TE Connectivity) is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates its business through three segments: Transportation Solutions which offers various products including terminals and connector systems and components relays circuit protection devices sensors and application tooling among others; Industrial Solutions which include terminals and connector systems and components heat shrink tubing relays wire and cable and Communications Solutions which include terminals and connector systems and components circuit protection devices antennas relays and heat shrink tubing. It markets its products to manufacturers and distributors in a number of markets which include automotive industrial equipment and consumer devices.