TD SYNNEX (NYSE:SNX) Issues Q4 2024 Earnings Guidance

TD SYNNEX (NYSE:SNX) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.800-3.300 for the period, compared to the consensus earnings per share estimate of 3.220. The company issued revenue guidance of $14.9 billion-$15.7 billion, compared to the consensus revenue estimate of $15.2 billion. TD SYNNEX also updated its Q4 guidance to $2.80-3.30 EPS.

TD SYNNEX Stock Up 1.2 %

Shares of NYSE SNX opened at $118.71 on Friday. TD SYNNEX has a 12-month low of $89.73 and a 12-month high of $133.85. The firm’s 50-day simple moving average is $116.14 and its 200 day simple moving average is $117.76. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. The company has a market cap of $10.14 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 1.18 and a beta of 1.49.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). The company had revenue of $13.95 billion for the quarter, compared to analyst estimates of $14.12 billion. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. On average, research analysts expect that TD SYNNEX will post 11.22 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.35%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s dividend payout ratio is 22.41%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SNX shares. StockNews.com upgraded TD SYNNEX from a hold rating to a buy rating in a research report on Friday, August 16th. UBS Group boosted their price objective on TD SYNNEX from $145.00 to $150.00 and gave the stock a buy rating in a report on Wednesday, June 26th. Bank of America reduced their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a buy rating on the stock in a research note on Thursday, June 27th. JPMorgan Chase & Co. dropped their price target 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, June 26th. Finally, Barrington Research restated an outperform rating and issued a $138.00 price objective on shares of TD SYNNEX in a report on Monday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $128.25.

Insider Activity at TD SYNNEX

In other news, CFO Marshall Witt sold 11,441 shares of TD SYNNEX stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following 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 legal filing with the SEC, which is available at the SEC website. In related news, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total value of $1,260,111.74. Following the completion of the transaction, the chief financial officer now directly owns 45,115 shares in the company, valued at approximately $4,968,966.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Zammit sold 3,513 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $113.28, for a total transaction of $397,952.64. Following the sale, the chief operating officer now owns 140,205 shares in the company, valued at $15,882,422.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,188 shares of company stock worth $1,685,455. 1.90% of the stock is currently owned by company insiders.

TD SYNNEX Company Profile

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.