Tech Data Corporation (TECD) Set to Announce Quarterly Earnings on Wednesday
Tech Data Corporation (NASDAQ:TECD) is set to announce its earnings results before the market opens on Wednesday, August 23rd. Analysts expect the company to announce earnings of $2.04 per share for the quarter. Tech Data Corporation has set its Q2 guidance at $1.95-2.08 EPS.
Tech Data Corporation (NASDAQ:TECD) last released its quarterly earnings results on Thursday, June 1st. The company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.53. The company had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.31 billion. Tech Data Corporation had a return on equity of 11.67% and a net margin of 0.69%. The firm’s revenue was up 28.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.05 EPS. On average, analysts expect Tech Data Corporation to post $9.76 EPS for the current fiscal year and $10.76 EPS for the next fiscal year.
Shares of Tech Data Corporation (NASDAQ:TECD) opened at 103.20 on Wednesday. The stock’s 50 day moving average price is $103.85 and its 200 day moving average price is $95.93. The company has a market cap of $3.93 billion, a P/E ratio of 19.26 and a beta of 0.79. Tech Data Corporation has a 1-year low of $67.67 and a 1-year high of $107.50.
A number of analysts recently issued reports on the company. Zacks Investment Research raised Tech Data Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. BidaskClub downgraded Tech Data Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Bank of America Corporation reaffirmed a “buy” rating and issued a $110.00 target price on shares of Tech Data Corporation in a research report on Thursday, June 1st. Finally, Citigroup Inc. raised Tech Data Corporation from a “sell” rating to a “neutral” rating and set a $115.00 target price on the stock in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Tech Data Corporation presently has an average rating of “Buy” and an average price target of $105.57.
In related news, CFO Alain Amsellem sold 1,648 shares of Tech Data Corporation stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $106.31, for a total transaction of $175,198.88. Following the completion of the transaction, the chief financial officer now owns 26,479 shares in the company, valued at $2,814,982.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert M. Dutkowsky sold 20,000 shares of Tech Data Corporation stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $100.08, for a total value of $2,001,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,888 shares of company stock worth $3,519,704. 1.60% of the stock is owned by company insiders.
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About Tech Data Corporation
Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services.
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