Wall Street brokerages forecast that Tech Data Corp (NASDAQ:TECD) will report sales of $10.54 billion for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Tech Data’s earnings. The lowest sales estimate is $10.51 billion and the highest is $10.59 billion. Tech Data reported sales of $7.43 billion during the same quarter last year, which indicates a positive year over year growth rate of 41.9%. The business is scheduled to report its next earnings report on Wednesday, March 14th.
On average, 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 year, analysts forecast that the company will report sales of $37.20 billion per share, with estimates ranging from $36.90 billion to $37.39 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Tech Data.
Tech Data (NASDAQ:TECD) last announced its quarterly earnings data on Monday, November 27th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.10. The firm had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.10 billion. Tech Data had a net margin of 0.59% and a return on equity of 11.90%. The business’s quarterly revenue was up 40.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.44 earnings per share.
Tech Data (NASDAQ:TECD) opened at $107.29 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.35 and a debt-to-equity ratio of 0.66. The firm has a market cap of $4,093.44, a P/E ratio of 20.44, a P/E/G ratio of 0.54 and a beta of 0.78. Tech Data has a twelve month low of $81.42 and a twelve month high of $111.10.
In other Tech Data news, COO Richard T. Hume sold 3,100 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $98.06, for a total transaction of $303,986.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in TECD. SpiderRock Advisors LLC purchased a new stake in Tech Data in the 3rd quarter valued at $106,000. Dynamic Technology Lab Private Ltd acquired a new position in Tech Data in the 3rd quarter valued at $201,000. Creative Planning acquired a new position in Tech Data in the 4th quarter valued at $205,000. Cipher Capital LP acquired a new position in Tech Data in the 3rd quarter valued at $206,000. Finally, GSA Capital Partners LLP acquired a new position in Tech Data in the 3rd quarter valued at $212,000. Hedge funds and other institutional investors own 98.12% of the company’s stock.
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About Tech Data
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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