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

TD SYNNEX (NYSE:SNX) issued its earnings results on Thursday. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.06, Briefing.com reports. The company 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 firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $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 Stock Up 0.8 %

Shares of NYSE SNX opened at $119.67 on Friday. The stock has a market capitalization of $10.23 billion, a price-to-earnings 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. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average price is $116.22 and its 200-day moving average price is $117.86.

TD SYNNEX Dividend Announcement

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of research firms recently commented on SNX. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research report on Friday. JPMorgan Chase & Co. lowered their price objective on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Barrington Research restated an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Finally, UBS Group upped their price target on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, TD SYNNEX presently has an average rating of “Moderate Buy” and an average target price of $132.57.

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.