TD SYNNEX (NYSE:SNX) Issues Quarterly Earnings Results

TD SYNNEX (NYSE:SNX) issued its quarterly earnings data on Thursday. The business services provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.06, Briefing.com reports. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The company had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. 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 Stock Up 1.3 %

TD SYNNEX stock traded up $1.58 during mid-day trading on Friday, reaching $120.29. 102,130 shares of the company were exchanged, compared to its average volume of 822,622. The business has a fifty day moving average of $116.14 and a 200 day moving average of $117.76. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26. The firm has a market cap of $10.28 billion, a P/E ratio of 16.78, a PEG ratio of 1.18 and a beta of 1.49. TD SYNNEX has a 12-month low of $89.73 and a 12-month high of $133.85.

TD SYNNEX Dividend Announcement

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

Insiders Place Their Bets

In other news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the sale, the chief financial officer now owns 45,115 shares in the company, valued at approximately $4,968,966.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Patrick Zammit sold 3,513 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the transaction, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total value of $1,260,111.74. Following the completion of the transaction, the chief financial officer now owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The disclosure for this sale can be found here. Insiders sold a total of 15,188 shares of company stock worth $1,685,455 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

SNX has been the topic of several analyst reports. Bank of America reduced their price objective on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Barrington Research reaffirmed an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research note on Monday. JPMorgan Chase & Co. cut their target price on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $128.25.

TD SYNNEX Company Profile

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.