TD SYNNEX (NYSE:SNX) Announces Earnings Results

TD SYNNEX (NYSE:SNX) announced its quarterly earnings results on Thursday. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06, Briefing.com reports. The business had revenue of $14.68 billion during the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.71 EPS. 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 Trading Up 0.8 %

Shares of SNX stock opened at $119.67 on Friday. The business’s 50 day moving average is $116.22 and its two-hundred day moving average is $117.86. TD SYNNEX has a 12 month low of $89.73 and a 12 month high of $133.85. The company has a market cap of $10.23 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.18 and a beta of 1.49. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.47.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be paid 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 of this dividend is Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of TD SYNNEX stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total value of $1,260,111.74. Following the sale, the chief financial officer now owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Marshall Witt sold 11,441 shares of the business’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 transaction, the chief financial officer now 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 Securities & Exchange Commission, which is available through this link. Also, COO Patrick Zammit sold 3,513 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the completion of the transaction, the chief operating officer now directly owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The disclosure for this sale can be found here. Insiders sold a total of 15,188 shares of company stock valued at $1,685,455 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SNX shares. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. decreased their target price on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Bank of America cut their price target on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Friday. Finally, Barrington Research reiterated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and an average target price of $132.57.

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.