TD SYNNEX (NYSE:SNX) Announces Earnings Results

TD SYNNEX (NYSE:SNX) announced its quarterly earnings data on Friday. The business services provider reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.05 by $0.04, Briefing.com reports. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The company had revenue of $15.84 billion for the quarter, compared to the consensus estimate of $15.22 billion. During the same period in the previous year, the business earned $3.13 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. TD SYNNEX updated its Q1 guidance to $2.65-3.15 EPS.

TD SYNNEX Trading Down 1.0 %

SNX opened at $122.01 on Friday. The firm has a market capitalization of $10.38 billion, a PE ratio of 15.78, a P/E/G ratio of 1.14 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. TD SYNNEX has a fifty-two week low of $98.70 and a fifty-two week high of $133.85. The company’s 50-day moving average is $119.77 and its 200 day moving average is $117.85.

Insiders Place Their Bets

In related news, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now directly owns 23,339 shares in the company, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the sale, the chief financial officer now directly owns 48,362 shares of the company’s stock, valued at $5,858,089.06. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,876 shares of company stock valued at $8,196,529. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research report on Tuesday. Barrington Research restated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Loop Capital reiterated a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. Barclays increased their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Finally, StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Four 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 target price of $134.75.

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.