TD SYNNEX (NYSE:SNX) Releases Q3 Earnings Guidance

TD SYNNEX (NYSE:SNX) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.55-3.05 for the period, compared to the consensus estimate of $2.93. The company issued revenue guidance of $13.30-14.90 billion, compared to the consensus revenue estimate of $14.52 billion. TD SYNNEX also updated its Q3 2024 guidance to 2.550-3.050 EPS.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of TD SYNNEX from $126.00 to $123.00 and set a neutral rating on the stock in a research note on Wednesday. Royal Bank of Canada restated a sector perform rating and set a $135.00 price objective on shares of TD SYNNEX in a research note on Wednesday. UBS Group boosted their price objective on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a buy rating in a research note on Wednesday. Bank of America reduced their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a buy rating for the company in a report on Thursday. Finally, Cfra lifted their target price on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a hold rating in a report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $122.82.

TD SYNNEX Stock Performance

NYSE SNX opened at $115.54 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $10.29 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.12 and a beta of 1.55. TD SYNNEX has a 12-month low of $89.73 and a 12-month high of $133.85. The firm has a 50-day moving average price of $124.68 and a two-hundred day moving average price of $112.51.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The company had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $14.37 billion. Analysts anticipate that TD SYNNEX will post 11.38 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, July 12th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

Insider Buying and Selling

In related news, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at approximately $15,908,778.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,363 shares in the company, valued at approximately $25,400,041.77. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the transaction, the insider now owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate 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.