TD SYNNEX (NYSE:SNX) Releases Earnings Results, Beats Estimates By $0.06 EPS

TD SYNNEX (NYSE:SNX) released its 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 during the quarter, compared to the consensus estimate of $14.11 billion. During the same period in the prior year, the firm earned $2.71 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. 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 Performance

NYSE SNX opened at $119.67 on Friday. TD SYNNEX has a 1 year low of $89.73 and a 1 year high of $133.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. The stock 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 simple moving average is $116.22 and its two-hundred day simple moving average is $117.86.

TD SYNNEX Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the sale, the chief financial officer now owns 45,115 shares in the company, valued at approximately $4,968,966.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, COO Patrick Zammit sold 3,513 shares of the stock in a transaction 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 transaction, the chief operating officer now owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Marshall Witt sold 11,441 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the transaction, the chief financial officer now directly owns 45,115 shares in the company, valued at approximately $4,968,966.10. The disclosure for this sale can be found here. Insiders have sold 15,188 shares of company stock worth $1,685,455 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SNX shares. 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. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Friday. Bank of America reduced their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Barrington Research restated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Finally, StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, TD SYNNEX presently has an average rating of “Moderate Buy” and an average target price of $132.57.

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.