Equities research analysts expect Tech Data Corporation (NASDAQ:TECD) to report $9.07 billion in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Tech Data Corporation’s earnings, with the lowest sales estimate coming in at $9.03 billion and the highest estimate coming in at $9.14 billion. Tech Data Corporation posted sales of $6.49 billion in the same quarter last year, which suggests a positive year over year growth rate of 39.8%. The business is scheduled to report its next quarterly earnings report on Tuesday, November 28th.

On average, analysts expect that Tech Data Corporation will report full year sales of $9.07 billion for the current year, with estimates ranging from $35.96 billion to $36.30 billion. For the next year, analysts anticipate that the business will report sales of $37.20 billion per share, with estimates ranging from $37.11 billion to $37.32 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Tech Data Corporation.

Tech Data Corporation (NASDAQ:TECD) last announced its quarterly earnings data on Thursday, August 31st. The company reported $1.74 EPS for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.32). The business had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $8.74 billion. Tech Data Corporation had a net margin of 0.63% and a return on equity of 11.60%. Tech Data Corporation’s revenue for the quarter was up 39.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 EPS.

A number of analysts have recently issued reports on TECD shares. Zacks Investment Research lowered Tech Data Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Northcoast Research raised shares of Tech Data Corporation from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 5th. Loop Capital reaffirmed a “buy” rating and issued a $120.00 price target (down from $130.00) on shares of Tech Data Corporation in a research note on Friday, September 1st. Citigroup Inc. reaffirmed a “hold” rating and issued a $100.00 price target on shares of Tech Data Corporation in a research note on Friday, September 1st. Finally, Pivotal Research started coverage on shares of Tech Data Corporation in a research note on Friday, October 6th. They issued a “buy” rating and a $114.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $109.33.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Tech Data Corporation by 24.1% during the second quarter. BlackRock Inc. now owns 4,780,405 shares of the company’s stock worth $482,820,000 after buying an additional 927,770 shares during the last quarter. Vanguard Group Inc. increased its position in Tech Data Corporation by 2.6% during the second quarter. Vanguard Group Inc. now owns 3,834,033 shares of the company’s stock worth $387,237,000 after buying an additional 95,414 shares during the last quarter. State Street Corp increased its position in Tech Data Corporation by 3.7% during the second quarter. State Street Corp now owns 1,269,882 shares of the company’s stock worth $128,258,000 after buying an additional 44,944 shares during the last quarter. JPMorgan Chase & Co. increased its position in Tech Data Corporation by 37.5% during the second quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock worth $79,316,000 after buying an additional 214,058 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Tech Data Corporation by 13.7% during the second quarter. Bank of New York Mellon Corp now owns 780,356 shares of the company’s stock worth $78,816,000 after buying an additional 94,072 shares during the last quarter.

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Shares of Tech Data Corporation (NASDAQ:TECD) opened at 90.35 on Tuesday. Tech Data Corporation has a 12 month low of $74.07 and a 12 month high of $111.10. The stock has a 50 day moving average price of $88.89 and a 200-day moving average price of $97.02. The stock has a market cap of $3.45 billion, a P/E ratio of 17.15 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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Earnings History and Estimates for Tech Data Corporation (NASDAQ:TECD)

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