Tech Data Corp (TECD) Releases Quarterly Earnings Results
Tech Data Corp (NASDAQ:TECD) released its earnings data on Tuesday. The company reported $1.12 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.35, Analyst Ratings Network.com reports. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.72 billion. During the same quarter last year, the company posted $0.73 earnings per share.
Tech Data Corp (NASDAQ:TECD) opened at 66.29 on Tuesday. Tech Data Corp has a one year low of $48.35 and a one year high of $66.62. The stock’s 50-day moving average is $63.73 and its 200-day moving average is $61.26. The company has a market cap of $2.535 billion and a P/E ratio of 14.36.
A number of analysts have recently weighed in on TECD shares. Analysts at Zacks reiterated a “neutral” rating on shares of Tech Data Corp in a research note on Friday. They now have a $70.00 price target on the stock. On the ratings front, analysts at Bank of America upgraded shares of Tech Data Corp from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 16th. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Tech Data Corp in a research note on Friday, May 30th. They now have a $62.00 price target on the stock, down previously from $66.00. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $66.00.
Tech Data Corporation (NASDAQ:TECD) is a wholesale distributor of technology products.
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