TD SYNNEX (NYSE:SNX) Issues Earnings Results, Beats Estimates By $0.04 EPS

TD SYNNEX (NYSE:SNX) posted its quarterly earnings results on Friday. The business services provider reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.05 by $0.04, Briefing.com reports. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm had revenue of $15.84 billion for the quarter, compared to analyst estimates of $15.22 billion. During the same period in the prior year, the firm posted $3.13 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. TD SYNNEX updated its Q1 guidance to $2.65-3.15 EPS.

TD SYNNEX Trading Down 1.0 %

Shares of TD SYNNEX stock opened at $122.01 on Friday. TD SYNNEX has a 52-week low of $98.70 and a 52-week high of $133.85. The stock has a market cap of $10.38 billion, a PE ratio of 15.78, a PEG ratio of 1.14 and a beta of 1.46. The firm has a 50-day moving average of $119.77 and a 200-day moving average of $117.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25.

Insiders Place Their Bets

In related news, CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the transaction, the chief financial officer now owns 48,362 shares in the company, valued at approximately $5,858,089.06. This trade represents a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the sale, the director now directly owns 171,080 shares of the company’s stock, valued at $20,652,777.60. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,876 shares of company stock worth $8,196,529 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SNX has been the subject of several recent analyst reports. Barclays raised their target price on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Loop Capital reissued a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a report on Monday, October 7th. Barrington Research reaffirmed an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $134.75.

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.