TD SYNNEX (NYSE:SNX) Announces Earnings Results, Beats Expectations By $0.06 EPS

TD SYNNEX (NYSE:SNX) announced its quarterly earnings results on Thursday. The business services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06, Briefing.com reports. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The firm had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. During the same quarter in the previous year, the firm posted $2.71 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. TD SYNNEX updated its Q4 guidance to $2.80-3.30 EPS and its Q4 2024 guidance to 2.800-3.300 EPS.

TD SYNNEX Stock Up 0.8 %

TD SYNNEX stock opened at $119.67 on Friday. TD SYNNEX has a fifty-two week low of $89.73 and a fifty-two week high of $133.85. The firm has a market capitalization of $10.23 billion, a PE ratio of 16.76, a P/E/G ratio of 1.18 and a beta of 1.49. The company’s 50-day moving average is $116.22 and its 200-day moving average is $117.86. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SNX. Bank of America lowered their target price on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, June 27th. UBS Group lifted their target price on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. 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. Barclays lifted their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday. Finally, JPMorgan Chase & Co. reduced their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.57.

Insider Buying and Selling

In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction 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 approximately $4,968,966.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of the 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 transaction, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Patrick Zammit sold 3,513 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $113.28, for a total transaction of $397,952.64. Following the sale, the chief operating officer now owns 140,205 shares of the company’s stock, valued at $15,882,422.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,188 shares of company stock worth $1,685,455. Company insiders own 1.90% 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.