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

TD SYNNEX (NYSE:SNX) posted its quarterly earnings data on Thursday. The business services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06, Briefing.com reports. The firm had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $2.71 EPS. 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 Performance

Shares of SNX stock traded up $0.96 during trading on Friday, reaching $119.67. The company had a trading volume of 830,626 shares, compared to its average volume of 826,331. The firm’s 50 day simple moving average is $116.22 and its two-hundred day simple moving average is $117.86. TD SYNNEX has a one year low of $89.73 and a one year high of $133.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. The company has a market capitalization of $10.23 billion, a PE ratio of 16.76, a PEG ratio of 1.18 and a beta of 1.49.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the completion of the transaction, the chief operating officer now owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Patrick Zammit sold 3,513 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $113.28, for a total transaction of $397,952.64. Following the completion of the transaction, the chief operating officer now directly owns 140,205 shares in the company, valued at $15,882,422.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 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 disclosure for this sale can be found here. Insiders have sold a total of 15,188 shares of company stock worth $1,685,455 over the last 90 days. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SNX. Barclays upped their price target on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday. Barrington Research restated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Bank of America dropped their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. UBS Group lifted their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. dropped their price target on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average target price of $132.57.

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.