TD SYNNEX (NYSE:SNX – Get Rating) is set to issue its quarterly earnings data before the market opens on Tuesday, September 27th. Analysts expect the company to announce earnings of $2.70 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.
TD SYNNEX (NYSE:SNX – Get Rating) last released its quarterly earnings data on Tuesday, June 28th. The business services provider reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.14. The company had revenue of $15.27 billion during the quarter, compared to the consensus estimate of $15.25 billion. TD SYNNEX had a net margin of 0.96% and a return on equity of 13.95%. TD SYNNEX’s quarterly revenue was up 160.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.00 EPS. On average, analysts expect TD SYNNEX to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.
TD SYNNEX Stock Up 1.8 %
SNX stock opened at $91.74 on Tuesday. The company has a market cap of $8.79 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.85 and a beta of 1.57. The company has a current ratio of 1.26, a quick ratio of 0.69 and a debt-to-equity ratio of 0.49. TD SYNNEX has a 12 month low of $88.21 and a 12 month high of $119.30. The firm has a 50-day moving average of $97.73 and a two-hundred day moving average of $99.64.
TD SYNNEX Announces Dividend
Insider Buying and Selling
In related news, insider Dennis Polk sold 4,000 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $92.03, for a total transaction of $368,120.00. Following the completion of the transaction, the insider now owns 151,153 shares of the company’s stock, valued at approximately $13,910,610.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other TD SYNNEX news, CEO Richard T. Hume sold 17,900 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $106.23, for a total transaction of $1,901,517.00. Following the sale, the chief executive officer now directly owns 117,747 shares in the company, valued at approximately $12,508,263.81. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dennis Polk sold 4,000 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $92.03, for a total transaction of $368,120.00. Following the sale, the insider now owns 151,153 shares in the company, valued at $13,910,610.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,094 shares of company stock valued at $3,585,190. Company insiders own 1.60% of the company’s stock.
Institutional Investors Weigh In On TD SYNNEX
Hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. lifted its holdings in TD SYNNEX by 34.0% during the 2nd quarter. Sei Investments Co. now owns 10,162 shares of the business services provider’s stock worth $925,000 after buying an additional 2,576 shares in the last quarter. US Bancorp DE raised its holdings in shares of TD SYNNEX by 11.6% in the 1st quarter. US Bancorp DE now owns 7,213 shares of the business services provider’s stock valued at $745,000 after purchasing an additional 747 shares in the last quarter. Ergoteles LLC acquired a new stake in shares of TD SYNNEX in the 1st quarter valued at $619,000. Toroso Investments LLC raised its holdings in shares of TD SYNNEX by 12.7% in the 1st quarter. Toroso Investments LLC now owns 4,860 shares of the business services provider’s stock valued at $502,000 after purchasing an additional 548 shares in the last quarter. Finally, Eqis Capital Management Inc. raised its holdings in shares of TD SYNNEX by 7.2% in the 1st quarter. Eqis Capital Management Inc. now owns 3,723 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 249 shares in the last quarter. 86.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. TheStreet upgraded shares of TD SYNNEX from a “c+” rating to a “b-” rating in a report on Thursday, August 25th. Barrington Research dropped their price target on shares of TD SYNNEX from $128.00 to $106.00 and set an “outperform” rating for the company in a research note on Friday, July 1st. JPMorgan Chase & Co. started coverage on shares of TD SYNNEX in a research note on Thursday, July 14th. They issued an “overweight” rating and a $119.00 price target for the company. Citigroup dropped their price target on shares of TD SYNNEX from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Finally, Credit Suisse Group dropped their price target on shares of TD SYNNEX from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Wednesday, September 14th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.56.
TD SYNNEX Company Profile
TD SYNNEX Corporation provides business process services in the United States and internationally. The company distributes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, consumer electronics, information technology (IT) systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics, and complementary products.
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