TD SYNNEX (NYSE:SNX) Posts Earnings Results, Beats Estimates By $0.04 EPS

TD SYNNEX (NYSE:SNX) posted its quarterly earnings results on Friday. The business services provider reported $3.09 earnings per share for the quarter, beating the consensus estimate of $3.05 by $0.04, Briefing.com reports. The company had revenue of $15.84 billion during the quarter, compared to analyst estimates of $15.22 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.13 earnings per share. TD SYNNEX updated its Q1 guidance to $2.65-3.15 EPS.

TD SYNNEX Stock Down 1.0 %

Shares of NYSE SNX opened at $122.01 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The company has a market cap of $10.38 billion, a P/E ratio of 15.78, a P/E/G ratio of 1.14 and a beta of 1.46. TD SYNNEX has a 52 week low of $98.70 and a 52 week high of $133.85. The business has a 50-day simple moving average of $119.77 and a two-hundred day simple moving average of $117.85.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Barclays increased their target price on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Loop Capital reissued a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research report on Tuesday. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Barrington Research restated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.75.

Insider Activity

In other news, insider David R. Vetter sold 20,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $123.14, for a total value of $2,462,800.00. Following the transaction, the insider now owns 66,381 shares of the company’s stock, valued at approximately $8,174,156.34. This represents a 23.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the completion of the sale, the chief financial officer now owns 48,362 shares in the company, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,876 shares of company stock worth $8,196,529 over the last ninety days. Company 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.