Tech Data (NASDAQ:TECD) Announces Quarterly Earnings Results

Tech Data (NASDAQ:TECD) announced its earnings results on Tuesday. The company reported $3.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.99 by $0.03, Briefing.com reports. Tech Data had a net margin of 0.98% and a return on equity of 15.96%. The company had revenue of $9.12 billion during the quarter, compared to the consensus estimate of $9.37 billion. During the same period last year, the firm earned $3.02 earnings per share. Tech Data’s revenue was down 2.4% compared to the same quarter last year.

Shares of NASDAQ:TECD traded down $0.03 on Thursday, hitting $129.00. 505,395 shares of the company were exchanged, compared to its average volume of 670,469. Tech Data has a 1-year low of $70.41 and a 1-year high of $131.70. The stock’s 50 day moving average price is $123.23 and its 200 day moving average price is $104.20. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $4.60 billion, a P/E ratio of 11.34 and a beta of 1.15.

In related news, Director Robert M. Dutkowsky sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $105.04, for a total transaction of $1,050,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles V. Dannewitz sold 1,050 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $103.60, for a total transaction of $108,780.00. The disclosure for this sale can be found here. Insiders have sold 12,899 shares of company stock valued at $1,352,943 over the last quarter. Insiders own 1.10% of the company’s stock.

TECD has been the subject of several research reports. BidaskClub upgraded shares of Tech Data from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Citigroup set a $100.00 price objective on shares of Tech Data and gave the stock a “hold” rating in a research note on Friday, August 30th. ValuEngine upgraded shares of Tech Data from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 15th. Loop Capital lifted their price objective on shares of Tech Data to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Zacks Investment Research upgraded shares of Tech Data from a “sell” rating to a “hold” rating and set a $95.00 price objective for the company in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Tech Data has an average rating of “Hold” and an average target price of $112.50.

About Tech Data

Tech Data Corporation operates as an IT distribution and solutions company. The company offers endpoint portfolio solutions, including personal computer systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics. It also provides advanced portfolio solutions, such as data center technologies comprising storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.

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Earnings History for Tech Data (NASDAQ:TECD)

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