TD SYNNEX (NYSE:SNX) Issues Earnings Results, Beats Expectations By $0.06 EPS

TD SYNNEX (NYSE:SNX) issued its quarterly earnings results on Thursday. The business services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.80 by $0.06, Briefing.com reports. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The company had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. During the same quarter in the previous year, the firm earned $2.71 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. TD SYNNEX updated its Q4 guidance to $2.80-3.30 EPS and its Q4 2024 guidance to 2.800-3.300 EPS.

TD SYNNEX Trading Up 1.0 %

Shares of NYSE SNX traded up $1.24 on Friday, reaching $119.95. 146,682 shares of the company traded hands, compared to its average volume of 822,802. The company has a 50 day moving average of $116.14 and a 200 day moving average of $117.76. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47. TD SYNNEX has a fifty-two week low of $89.73 and a fifty-two week high of $133.85. The stock has a market capitalization of $10.25 billion, a PE ratio of 16.78, a P/E/G ratio of 1.18 and a beta of 1.49.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Friday, October 11th. TD SYNNEX’s payout ratio is 22.41%.

Insider Activity

In other news, COO Patrick Zammit sold 3,513 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the transaction, the chief operating officer now owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the completion of the sale, the chief financial officer now owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Zammit sold 3,513 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the sale, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. The disclosure for this sale can be found here. Insiders sold 15,188 shares of company stock valued at $1,685,455 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on SNX shares. Bank of America decreased their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research note on Friday. UBS Group boosted their price objective on TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Barrington Research reiterated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Monday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average target price of $128.25.

About TD SYNNEX

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.