TD SYNNEX (NYSE:SNX) Issues Earnings Results

TD SYNNEX (NYSE:SNX) issued its quarterly earnings results on Thursday. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06, Briefing.com reports. The firm had revenue of $14.68 billion during the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $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 Stock Up 0.8 %

Shares of SNX stock traded up $0.96 during mid-day trading on Friday, reaching $119.67. 830,626 shares of the company’s stock traded hands, compared to its average volume of 826,331. 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’s 50-day moving average price is $116.22 and its 200-day moving average price is $117.86. The company has a market cap 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. TD SYNNEX has a 12 month low of $89.73 and a 12 month high of $133.85.

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 given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, October 11th. TD SYNNEX’s dividend payout ratio is currently 22.41%.

Insider Activity at TD SYNNEX

In other news, COO Patrick Zammit sold 3,513 shares of the business’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 value of $397,952.64. Following the sale, the chief operating officer now directly owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 45,115 shares in the company, valued at $4,968,966.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Patrick Zammit sold 3,513 shares of the business’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 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 valued at $1,685,455 in the last three months. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays boosted 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. Barrington Research restated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Bank of America cut their price objective on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, June 27th. UBS Group raised their price objective on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, TD SYNNEX has an average rating of “Moderate Buy” and a consensus 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.