TD SYNNEX (SNX) Set to Announce Earnings on Thursday

TD SYNNEX (NYSE:SNX) is set to announce its earnings results before the market opens on Thursday, September 26th. Analysts expect the company to announce earnings of $2.69 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The firm had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $14.12 billion. On average, analysts expect TD SYNNEX to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

TD SYNNEX Stock Up 0.3 %

Shares of TD SYNNEX stock opened at $118.88 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. TD SYNNEX has a 52-week low of $89.73 and a 52-week high of $133.85. The company has a 50 day moving average of $116.12 and a 200 day moving average of $117.75. The company has a market capitalization of $10.16 billion, a P/E ratio of 16.65, a P/E/G ratio of 1.13 and a beta of 1.49.

Insider Transactions at TD SYNNEX

In related news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the transaction, the insider now owns 134,706 shares in the company, valued at $15,580,095.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the completion of the sale, the chief financial officer now owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were 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 directly 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. In the last 90 days, insiders have sold 35,188 shares of company stock worth $3,998,655. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SNX has been the subject of a number of research reports. Bank of America reduced their price target on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Royal Bank of Canada raised TD SYNNEX from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $135.00 to $140.00 in a research note on Monday, July 15th. Barrington Research restated an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Monday. UBS Group upped their price objective on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. dropped their price objective on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.25.

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.