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

TD SYNNEX (NYSE:SNX) announced its quarterly earnings data on Thursday. The business services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.06, Briefing.com reports. The business had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. TD SYNNEX’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.71 earnings per share. 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 Trading Up 0.8 %

TD SYNNEX stock opened at $119.67 on Friday. The stock has a market cap of $10.23 billion, a P/E ratio of 16.76, a PEG ratio of 1.18 and a beta of 1.49. TD SYNNEX has a fifty-two week low of $89.73 and a fifty-two week high of $133.85. The firm’s fifty day moving average price is $116.22 and its 200-day moving average price is $117.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26.

TD SYNNEX Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.34%. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.41%.

Insider Buying and Selling

In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $113.28, for a total value of $397,952.64. Following the sale, the chief operating officer now owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Patrick Zammit sold 3,513 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $15,882,422.40. The disclosure for this sale can be found here. Insiders sold a total of 15,188 shares of company stock worth $1,685,455 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SNX shares. Barclays boosted their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Barrington Research reiterated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Bank of America lowered their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. cut their price target on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and an average target price of $132.57.

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.