TD SYNNEX (NYSE:SNX) Updates Q3 Earnings Guidance

TD SYNNEX (NYSE:SNX) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $2.55-3.05 for the period, compared to the consensus EPS estimate of $2.93. The company issued revenue guidance of $13.30-14.90 billion, compared to the consensus revenue estimate of $14.52 billion.

TD SYNNEX Price Performance

SNX opened at $129.35 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average price is $124.54 and its 200 day moving average price is $112.34. TD SYNNEX has a fifty-two week low of $87.68 and a fifty-two week high of $133.85. The firm has a market cap of $11.53 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.26 and a beta of 1.55.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.12. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. The business had revenue of $13.98 billion for the quarter, compared to the consensus estimate of $14.37 billion. As a group, sell-side analysts expect that TD SYNNEX will post 11.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SNX shares. Bank of America boosted their price target on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a buy rating in a report on Tuesday, April 2nd. Royal Bank of Canada upped their target price on shares of TD SYNNEX from $118.00 to $135.00 and gave the stock a sector perform rating in a research report on Tuesday, June 11th. JPMorgan Chase & Co. lifted their price target on TD SYNNEX from $113.00 to $126.00 and gave the company a neutral rating in a report on Monday, April 1st. Barclays boosted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the stock an equal weight rating in a research report on Wednesday, March 27th. Finally, UBS Group upgraded TD SYNNEX from a neutral rating to a buy rating and raised their target price for the company from $115.00 to $145.00 in a research report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $123.36.

Insider Activity at TD SYNNEX

In other news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the transaction, the chief executive officer now owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The disclosure for this sale can be found here. 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.