TD SYNNEX Co. Forecasted to Earn FY2024 Earnings of $11.16 Per Share (NYSE:SNX)

TD SYNNEX Co. (NYSE:SNX) – Equities researchers at Barrington Research cut their FY2024 earnings per share (EPS) estimates for shares of TD SYNNEX in a report issued on Wednesday, June 26th. Barrington Research analyst V. Colicchio now expects that the business services provider will earn $11.16 per share for the year, down from their prior forecast of $11.36. Barrington Research currently has a “Outperform” rating and a $138.00 price objective on the stock. The consensus estimate for TD SYNNEX’s current full-year earnings is $11.25 per share. Barrington Research also issued estimates for TD SYNNEX’s Q4 2024 earnings at $2.97 EPS and FY2025 earnings at $12.05 EPS.

A number of other brokerages have also issued reports on SNX. Cfra upped their target price on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research note on Tuesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and set a $135.00 price objective on shares of TD SYNNEX in a research note on Wednesday, June 26th. Bank of America decreased their target price on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. JPMorgan Chase & Co. dropped their price target on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. 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 report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.10.

TD SYNNEX Trading Down 1.4 %

NYSE SNX opened at $112.37 on Monday. The company has a market capitalization of $10.01 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 1.14 and a beta of 1.52. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. TD SYNNEX has a 12 month low of $89.73 and a 12 month high of $133.85. The company’s fifty day moving average price is $124.63 and its two-hundred day moving average price is $112.84.

Institutional Trading of TD SYNNEX

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Diversified Trust Co raised its holdings in TD SYNNEX by 15.9% during the fourth quarter. Diversified Trust Co now owns 2,989 shares of the business services provider’s stock worth $322,000 after purchasing an additional 409 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of TD SYNNEX by 63.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 164,999 shares of the business services provider’s stock valued at $17,756,000 after buying an additional 64,024 shares during the period. Norges Bank bought a new position in TD SYNNEX during the fourth quarter valued at about $79,506,000. Principal Financial Group Inc. grew its holdings in TD SYNNEX by 1.9% during the fourth quarter. Principal Financial Group Inc. now owns 733,239 shares of the business services provider’s stock worth $78,904,000 after acquiring an additional 13,730 shares during the period. Finally, Raymond James Trust N.A. raised its position in TD SYNNEX by 9.0% in the fourth quarter. Raymond James Trust N.A. now owns 3,613 shares of the business services provider’s stock worth $389,000 after acquiring an additional 297 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the transaction, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the sale, the chief executive officer now directly owns 219,363 shares in the company, valued at $25,400,041.77. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the transaction, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $5,833,100 in the last quarter. Company insiders own 1.90% of the company’s stock.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 1.42%. TD SYNNEX’s dividend payout ratio is currently 22.41%.

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.