TD SYNNEX (NYSE:SNX) Updates Q1 Earnings Guidance

TD SYNNEX (NYSE:SNX) issued an update on its first quarter earnings guidance on Friday morning. The company provided EPS guidance of $2.65-3.15 for the period, compared to the consensus EPS estimate of $2.95. The company issued revenue guidance of $14.4-15.2 billion, compared to the consensus revenue estimate of $14.78 billion.

TD SYNNEX Price Performance

NYSE:SNX opened at $122.01 on Friday. The firm has a market cap of $10.38 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. TD SYNNEX has a 12-month low of $98.70 and a 12-month high of $133.85. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average is $119.77 and its two-hundred day moving average is $117.85.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Friday, January 10th. The business services provider reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.05 by $0.04. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The company had revenue of $15.84 billion for the quarter, compared to analyst estimates of $15.22 billion. During the same quarter in the prior year, the company posted $3.13 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts expect that TD SYNNEX will post 11.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SNX shares. Barclays raised their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Barrington Research reaffirmed an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. 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. Finally, Loop Capital reaffirmed a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

Insider Activity at TD SYNNEX

In related news, insider David R. Vetter sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $123.14, for a total value of $2,462,800.00. Following the completion of the sale, the insider now directly owns 66,381 shares in the company, valued at approximately $8,174,156.34. The trade was a 23.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the sale, the chief financial officer now owns 48,362 shares of the company’s stock, valued at $5,858,089.06. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,876 shares of company stock valued at $8,196,529. Insiders own 1.90% of the company’s stock.

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.