$10.54 Billion in Sales Expected for Tech Data Corporation (TECD) This Quarter

Analysts expect Tech Data Corporation (NASDAQ:TECD) to post sales of $10.54 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Tech Data’s earnings. The lowest sales estimate is $10.51 billion and the highest is $10.59 billion. Tech Data posted sales of $7.43 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 41.9%. The firm is expected to issue its next quarterly earnings results on Wednesday, March 14th.

According to Zacks, analysts expect that Tech Data will report full year sales of $10.54 billion for the current year, with estimates ranging from $36.19 billion to $36.28 billion. For the next financial year, analysts expect that the company will post sales of $37.20 billion per share, with estimates ranging from $36.90 billion to $37.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Tech Data.

Tech Data (NASDAQ:TECD) last issued its quarterly earnings results on Monday, November 27th. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.10. Tech Data had a return on equity of 11.90% and a net margin of 0.59%. The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period in the previous year, the company posted $1.44 earnings per share. The company’s quarterly revenue was up 40.8% compared to the same quarter last year.

A number of brokerages have weighed in on TECD. ValuEngine downgraded Tech Data from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Citigroup reaffirmed a “hold” rating and issued a $110.00 target price on shares of Tech Data in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price (down previously from $107.00) on shares of Tech Data in a research report on Monday, September 18th. BidaskClub downgraded Tech Data from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Raymond James Financial reaffirmed a “hold” rating on shares of Tech Data in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $112.33.

In other news, COO Richard T. Hume sold 3,100 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $98.06, for a total value of $303,986.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Amalgamated Bank raised its position in Tech Data by 1.6% during the 2nd 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. Northwestern Mutual Investment Management Company LLC grew its holdings in Tech Data by 2.0% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 6,077 shares of the company’s stock worth $437,000 after acquiring an additional 117 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Tech Data by 1.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,405 shares of the company’s stock worth $1,354,000 after acquiring an additional 187 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tech Data by 15.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,490 shares of the company’s stock worth $150,000 after acquiring an additional 195 shares during the period. Finally, Arizona State Retirement System grew its holdings in Tech Data by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 14,600 shares of the company’s stock worth $1,475,000 after acquiring an additional 200 shares during the period. 98.39% of the stock is owned by institutional investors and hedge funds.

Tech Data (NASDAQ TECD) traded up $0.88 on Friday, reaching $97.58. The company had a trading volume of 597,691 shares, compared to its average volume of 509,884. The company has a market capitalization of $3,689.42, a price-to-earnings ratio of 12.00, a PEG ratio of 0.48 and a beta of 0.78. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.66. Tech Data has a fifty-two week low of $81.42 and a fifty-two week high of $111.10.

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Tech Data 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 (NASDAQ:TECD)

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