TD SYNNEX (NYSE:SNX) Issues Q4 2024 Earnings Guidance

TD SYNNEX (NYSE:SNX) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.800-3.300 for the period, compared to the consensus earnings per share estimate of 3.220. The company issued revenue guidance of $14.9 billion-$15.7 billion, compared to the consensus revenue estimate of $15.2 billion. TD SYNNEX also updated its Q4 guidance to $2.80-3.30 EPS.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SNX. Royal Bank of Canada reissued an outperform rating and issued a $140.00 target price on shares of TD SYNNEX in a research report on Friday. Bank of America lowered their price objective on TD SYNNEX from $135.00 to $132.00 and set a buy rating on the stock in a research note on Thursday, June 27th. JPMorgan Chase & Co. cut their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a neutral rating for the company in a research report on Wednesday, June 26th. UBS Group boosted their price target on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a buy rating in a research report on Wednesday, June 26th. Finally, 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 research note on Friday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, TD SYNNEX presently has a consensus rating of Moderate Buy and an average target price of $132.57.

TD SYNNEX Price Performance

NYSE:SNX opened at $119.67 on Friday. The stock has a fifty day moving average of $116.22 and a 200 day moving average of $117.86. TD SYNNEX has a 52-week low of $89.73 and a 52-week high of $133.85. The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 1.18 and a beta of 1.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.06. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The company had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. During the same period in the prior year, the business earned $2.71 earnings per share. TD SYNNEX’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts expect that TD SYNNEX will post 11.22 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s dividend payout ratio is currently 22.41%.

Insider Activity at TD SYNNEX

In other news, COO Patrick Zammit sold 3,513 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $113.28, for a total transaction of $397,952.64. Following the transaction, the chief operating officer now directly owns 140,205 shares in the company, valued at approximately $15,882,422.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Patrick Zammit sold 3,513 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were 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. Insiders have sold a total of 15,188 shares of company stock valued at $1,685,455 over the last 90 days. 1.90% of the stock is owned by insiders.

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.