TD SYNNEX Co. (NYSE:SNX – Get Free Report) has earned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $110.27.
A number of analysts have recently weighed in on SNX shares. The Goldman Sachs Group boosted their target price on shares of TD SYNNEX from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, September 27th. JPMorgan Chase & Co. cut their target price on TD SYNNEX from $118.00 to $112.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 27th. StockNews.com started coverage on shares of TD SYNNEX in a research note on Thursday, October 5th. They set a “buy” rating for the company. Stifel Nicolaus raised their target price on shares of TD SYNNEX from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, September 19th. Finally, Barclays raised their price objective on shares of TD SYNNEX from $98.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 27th.
Insiders Place Their Bets
Hedge Funds Weigh In On TD SYNNEX
Several institutional investors and hedge funds have recently added to or reduced their stakes in SNX. Apollo Management Holdings L.P. purchased a new stake in shares of TD SYNNEX during the first quarter valued at about $3,622,519,000. FMR LLC lifted its position in TD SYNNEX by 4.7% during the third quarter. FMR LLC now owns 6,853,828 shares of the business services provider’s stock valued at $684,423,000 after acquiring an additional 307,844 shares during the last quarter. BlackRock Inc. boosted its stake in TD SYNNEX by 4.8% in the first quarter. BlackRock Inc. now owns 4,384,593 shares of the business services provider’s stock valued at $424,385,000 after acquiring an additional 199,876 shares in the last quarter. Vanguard Group Inc. grew its holdings in TD SYNNEX by 2.0% in the third quarter. Vanguard Group Inc. now owns 4,215,710 shares of the business services provider’s stock worth $342,274,000 after purchasing an additional 84,548 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of TD SYNNEX by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,813,767 shares of the business services provider’s stock worth $170,496,000 after purchasing an additional 34,186 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.
TD SYNNEX Trading Down 1.5 %
TD SYNNEX stock opened at $97.61 on Friday. The stock has a market cap of $9.02 billion, a P/E ratio of 14.02, a PEG ratio of 1.13 and a beta of 1.61. TD SYNNEX has a 1 year low of $86.30 and a 1 year high of $111.57. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.23 and a quick ratio of 0.75. The firm’s 50 day moving average price is $96.54 and its 200-day moving average price is $95.65.
TD SYNNEX (NYSE:SNX – Get Free Report) last issued its earnings results on Tuesday, September 26th. The business services provider reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.31. The firm had revenue of $13.96 billion for the quarter, compared to analysts’ expectations of $14.11 billion. TD SYNNEX had a return on equity of 12.95% and a net margin of 1.45%. The business’s revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.69 earnings per share. On average, equities analysts predict that TD SYNNEX will post 10.45 earnings per share for the current fiscal year.
TD SYNNEX Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 13th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.40 annualized dividend and a yield of 1.43%. TD SYNNEX’s dividend payout ratio (DPR) is currently 20.11%.
About TD SYNNEX
TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.
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