TD SYNNEX Co. (NYSE:SNX) Declares Quarterly Dividend of $0.44

TD SYNNEX Co. (NYSE:SNX) declared a quarterly dividend on Thursday, March 27th, RTT News reports. Investors of record on Friday, April 11th will be paid a dividend of 0.44 per share by the business services provider on Friday, April 25th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Friday, April 11th.

TD SYNNEX has raised its dividend by an average of 22.1% annually over the last three years. TD SYNNEX has a payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect TD SYNNEX to earn $13.62 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 12.9%.

TD SYNNEX Trading Down 14.0 %

Shares of SNX stock opened at $107.85 on Friday. The company has a market cap of $9.10 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. TD SYNNEX has a 1 year low of $98.00 and a 1 year high of $145.10. The stock’s 50 day simple moving average is $136.32 and its two-hundred day simple moving average is $125.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.07). The company had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.99 EPS. Research analysts predict that TD SYNNEX will post 11.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. decreased their price target on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Barrington Research reaffirmed an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a research report on Friday. Finally, Royal Bank of Canada increased their price target on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and an average price target of $146.63.

Insiders Place Their Bets

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the sale, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the sale, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock worth $6,353,261 over the last 90 days. Company insiders own 1.00% of the company’s stock.

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.