Tech Data Corporation (TECD) Updates FY18 Earnings Guidance
Tech Data Corporation (NASDAQ:TECD) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share guidance of $8.75-9.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $8.85. The company issued revenue guidance of $36-37 billion, compared to the consensus revenue estimate of $36.15 billion.
Shares of Tech Data Corporation (NASDAQ:TECD) traded up 0.95% during mid-day trading on Tuesday, reaching $92.29. The company had a trading volume of 827,441 shares. The stock has a market capitalization of $3.52 billion, a P/E ratio of 17.52 and a beta of 0.78. The firm’s 50 day moving average is $92.17 and its 200-day moving average is $96.93. Tech Data Corporation has a 12-month low of $74.07 and a 12-month high of $111.10.
Tech Data Corporation (NASDAQ:TECD) last posted its earnings results on Thursday, August 31st. The company reported $1.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.32). The firm had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $8.74 billion. Tech Data Corporation had a return on equity of 11.60% and a net margin of 0.63%. The business’s revenue for the quarter was up 39.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.42 earnings per share. On average, analysts expect that Tech Data Corporation will post $8.82 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the stock. ValuEngine lowered shares of Tech Data Corporation from a buy rating to a hold rating in a report on Monday, September 18th. Needham & Company LLC reiterated a buy rating and set a $100.00 target price (down from $107.00) on shares of Tech Data Corporation in a report on Monday, September 18th. BidaskClub lowered shares of Tech Data Corporation from a buy rating to a hold rating in a report on Friday, August 11th. Zacks Investment Research upgraded shares of Tech Data Corporation from a sell rating to a hold rating in a report on Monday, August 7th. Finally, Stifel Nicolaus lowered their price objective on shares of Tech Data Corporation from $115.00 to $110.00 and set a buy rating for the company in a report on Friday, September 1st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $109.00.
In other Tech Data Corporation news, CFO Alain Amsellem sold 1,648 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $106.31, for a total value of $175,198.88. Following the completion of the sale, the chief financial officer now directly owns 26,479 shares in the company, valued at $2,814,982.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.
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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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