TD SYNNEX Co. to Post Q3 2024 Earnings of $2.72 Per Share, Barrington Research Forecasts (NYSE:SNX)

TD SYNNEX Co. (NYSE:SNX) – Barrington Research reduced their Q3 2024 earnings per share (EPS) estimates for shares of TD SYNNEX in a note issued to investors on Wednesday, June 26th. Barrington Research analyst V. Colicchio now anticipates that the business services provider will post earnings of $2.72 per share for the quarter, down from their previous forecast of $2.78. Barrington Research currently has a “Outperform” rating and a $138.00 target price on the stock. The consensus estimate for TD SYNNEX’s current full-year earnings is $11.38 per share.

Other equities analysts have also issued reports about the stock. UBS Group increased their price objective on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America cut their target price on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday. Cfra boosted their target price on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research report on Tuesday, March 26th. JPMorgan Chase & Co. lowered their price target on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Barclays lifted their price objective on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. Four 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.10.

TD SYNNEX Stock Down 0.1 %

NYSE:SNX opened at $115.40 on Friday. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 1.13 and a beta of 1.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.26. The stock’s fifty day moving average price is $124.72 and its two-hundred day moving average price is $112.69. TD SYNNEX has a 52-week low of $89.73 and a 52-week high of $133.85.

Institutional Investors Weigh In On TD SYNNEX

A number of large investors have recently bought and sold shares of SNX. Pacer Advisors Inc. lifted its position in shares of TD SYNNEX by 33,158.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock worth $143,767,000 after buying an additional 1,331,988 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of TD SYNNEX by 23.4% in the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock valued at $751,143,000 after purchasing an additional 1,261,474 shares in the last quarter. Norges Bank bought a new stake in shares of TD SYNNEX during the 4th quarter valued at approximately $79,506,000. Lind Value II ApS acquired a new position in TD SYNNEX during the 1st quarter worth approximately $77,858,000. Finally, Lord Abbett & CO. LLC bought a new position in TD SYNNEX in the 1st quarter valued at approximately $57,981,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the sale, the chief executive officer now owns 219,363 shares in the company, valued at $25,400,041.77. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the transaction, the chief executive officer now directly owns 219,363 shares in the company, valued at $25,400,041.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $5,833,100 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be issued a $0.40 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 1.39%. TD SYNNEX’s dividend payout ratio is currently 22.41%.

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.