Brokerages Anticipate Tech Data Corporation (TECD) to Post $1.94 Earnings Per Share
Brokerages predict that Tech Data Corporation (NASDAQ:TECD) will announce $1.94 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Tech Data Corporation’s earnings. The highest EPS estimate is $1.95 and the lowest is $1.92. Tech Data Corporation reported earnings of $1.44 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 34.7%. The firm is scheduled to report its next earnings results on Tuesday, November 28th.
According to Zacks, analysts expect that Tech Data Corporation will report full-year earnings of $9.05 per share for the current fiscal year, with EPS estimates ranging from $8.77 to $9.20. For the next fiscal year, analysts anticipate that the firm will post earnings of $10.39 per share, with EPS estimates ranging from $10.20 to $10.49. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Tech Data Corporation.
Tech Data Corporation (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, August 31st. The company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.32). Tech Data Corporation had a net margin of 0.63% and a return on equity of 11.60%. The firm had revenue of $8.88 billion during the quarter, compared to analyst estimates of $8.74 billion. During the same quarter in the prior year, the business earned $1.42 earnings per share. The business’s revenue was up 39.8% on a year-over-year basis.
TECD has been the subject of a number of analyst reports. Citigroup Inc. restated a “hold” rating and set a $100.00 price objective on shares of Tech Data Corporation in a research note on Friday, September 1st. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price (down previously from $107.00) on shares of Tech Data Corporation in a research note on Monday, September 18th. Loop Capital reiterated a “buy” rating and issued a $120.00 target price (down previously from $130.00) on shares of Tech Data Corporation in a research note on Friday, September 1st. Zacks Investment Research cut shares of Tech Data Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Finally, BidaskClub cut shares of Tech Data Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $107.33.
In other Tech Data Corporation news, CFO Alain Amsellem sold 1,648 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $106.31, for a total transaction of $175,198.88. Following the transaction, the chief financial officer now owns 26,479 shares in the company, valued at approximately $2,814,982.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in TECD. Balasa Dinverno & Foltz LLC increased its position in Tech Data Corporation by 0.6% during the second quarter. Balasa Dinverno & Foltz LLC now owns 5,365 shares of the company’s stock valued at $542,000 after acquiring an additional 34 shares during the last quarter. Capital One National Association boosted its position in Tech Data Corporation by 0.3% in the second quarter. Capital One National Association now owns 13,690 shares of the company’s stock worth $1,383,000 after purchasing an additional 47 shares during the last quarter. Oakbrook Investments LLC boosted its position in Tech Data Corporation by 3.0% in the second quarter. Oakbrook Investments LLC now owns 2,575 shares of the company’s stock worth $260,000 after purchasing an additional 75 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Tech Data Corporation by 3.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,460 shares of the company’s stock worth $231,000 after purchasing an additional 80 shares during the last quarter. Finally, Amalgamated Bank boosted its position in Tech Data Corporation by 1.6% in the second quarter. Amalgamated Bank now owns 4,990 shares of the company’s stock worth $504,000 after purchasing an additional 80 shares during the last quarter.
Tech Data Corporation (NASDAQ:TECD) opened at 91.85 on Wednesday. The company’s 50-day moving average is $93.53 and its 200-day moving average is $96.95. Tech Data Corporation has a one year low of $74.07 and a one year high of $111.10. The firm has a market cap of $3.50 billion, a PE ratio of 17.43 and a beta of 0.78.
Tech Data Corporation Company Profile
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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