TD SYNNEX (NYSE:SNX) Releases Q3 Earnings Guidance

TD SYNNEX (NYSE:SNXGet Free Report) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.55-3.05 for the period, compared to the consensus estimate of $2.93. The company issued revenue guidance of $13.30-14.90 billion, compared to the consensus revenue estimate of $14.52 billion. TD SYNNEX also updated its Q3 2024 guidance to 2.550-3.050 EPS.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Cfra raised their target price on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a hold rating in a report on Tuesday, March 26th. Barrington Research reissued an outperform rating and issued a $138.00 target price on shares of TD SYNNEX in a report on Wednesday. Bank of America cut their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a buy rating for the company in a report on Thursday. Barclays lifted their price objective on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an equal weight rating in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of TD SYNNEX from $126.00 to $123.00 and set a neutral rating for the company in a research note on Wednesday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $122.82.

Read Our Latest Report on SNX

TD SYNNEX Stock Performance

SNX stock opened at $115.54 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.75. The business has a 50-day moving average price of $124.68 and a 200 day moving average price of $112.51. The company has a market capitalization of $10.29 billion, a P/E ratio of 16.18, a PEG ratio of 1.12 and a beta of 1.55. TD SYNNEX has a 1-year low of $89.73 and a 1-year high of $133.85.

TD SYNNEX (NYSE:SNXGet Free Report) last announced its earnings results on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. The business had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $14.37 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. As a group, equities research analysts forecast that TD SYNNEX will post 11.38 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a yield of 1.38%. TD SYNNEX’s dividend payout ratio is presently 22.41%.

Insiders Place Their Bets

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,363 shares in the company, valued at $25,400,041.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the sale, the chief executive officer now owns 219,363 shares in the company, valued at $25,400,041.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

About TD SYNNEX

(Get Free Report)

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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Earnings History and Estimates for TD SYNNEX (NYSE:SNX)

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