TE Connectivity Ltd. posts record operating margin, EPS, and cash generation for fiscal 2024, with a substantial number of shares acquired by various asset management companies. However, the company's Q4 earnings only matched estimates, causing a moderate sell rating from HSBC Global Res and a consensus 'Hold' recommendation from brokerages. A large decline in short interest was also noted.
TE Connectivity's change in place of incorporation to Ireland was completed, and it explores M&A Opportunities. Q1 2024 earnings guidance was released, with Wall Street expecting growth in earnings. Anounced dividends of $0.65, and the company's shares have risen 72% over the past five years. Amidst these, insiders selling stock worth US$6.8m signalled caution.
TE Connectivity stock's receent performance ties to its good financial prospects despite its EPS missing expectations. The company's NYSE final trading day readiness and a strategic business reconfiguration plan further indicates major shifts. It also completed a $350 million 4.625% senior notes offering and appointed a new board chairman and director.
Notably, TE Connectivity performed illegal shipments to Chinese entities and received a penalty. The firm is reportedly considering a $2 billion sale of its medical unit.
Te Connectivity Ltd TEL News Analytics from Wed, 03 Jan 2024 08:00:00 GMT to Sat, 02 Nov 2024 12:42:50 GMT - Rating 3 - Innovation 5 - Information 6 - Rumor -1