TD SYNNEX (NYSE:SNX) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

TD SYNNEX (NYSE:SNX) issued its quarterly earnings data on Thursday. The business services provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.06, Briefing.com reports. The firm had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.71 EPS. TD SYNNEX updated its Q4 guidance to $2.80-3.30 EPS and its Q4 2024 guidance to 2.800-3.300 EPS.

TD SYNNEX Price Performance

Shares of SNX stock traded up $0.96 during mid-day trading on Friday, hitting $119.67. The company had a trading volume of 830,626 shares, compared to its average volume of 826,331. The company has a market capitalization of $10.23 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.18 and a beta of 1.49. The stock’s 50 day moving average price is $116.22 and its 200-day moving average price is $117.86. TD SYNNEX has a 52-week low of $89.73 and a 52-week high of $133.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s payout ratio is currently 22.41%.

Analyst Ratings Changes

Several brokerages have recently weighed in on SNX. Barclays lifted their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. UBS Group raised their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.57.

Insider Buying and Selling at TD SYNNEX

In related news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the transaction, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, COO Patrick Zammit sold 3,513 shares of TD SYNNEX stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the transaction, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Marshall Witt sold 11,441 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the sale, the chief financial officer now owns 45,115 shares in the company, valued at approximately $4,968,966.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,188 shares of company stock worth $1,685,455. Insiders own 1.90% of the company’s stock.

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.