TD SYNNEX Co. (NYSE:SNX) Forecasted to Post Q3 2024 Earnings of $2.72 Per Share

TD SYNNEX Co. (NYSE:SNX) – Research analysts at Barrington Research lowered their Q3 2024 earnings per share (EPS) estimates for shares of TD SYNNEX in a note issued to investors on Wednesday, June 26th. Barrington Research analyst V. Colicchio now expects that the business services provider will earn $2.72 per share for the quarter, down from their previous forecast of $2.78. Barrington Research has a “Outperform” rating and a $138.00 price target on the stock. The consensus estimate for TD SYNNEX’s current full-year earnings is $11.38 per share.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. The company had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $14.37 billion. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%.

Several other analysts have also weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $135.00 price objective on shares of TD SYNNEX in a report on Wednesday. Cfra raised their price objective on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research note on Tuesday, March 26th. JPMorgan Chase & Co. reduced their price target on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday. Bank of America decreased their price objective on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday. Finally, Barclays lifted their price target on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.10.

TD SYNNEX Trading Down 0.2 %

Shares of SNX stock opened at $115.35 on Friday. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 1.12 and a beta of 1.55. The firm has a fifty day moving average of $124.72 and a 200-day moving average of $112.61. TD SYNNEX has a 52-week low of $89.73 and a 52-week high of $133.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.26.

Institutional Investors Weigh In On TD SYNNEX

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of TD SYNNEX by 23.4% during the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after buying an additional 1,261,474 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of TD SYNNEX by 38.5% in the first quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock worth $172,081,000 after acquiring an additional 421,908 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of TD SYNNEX by 33,158.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock valued at $143,767,000 after purchasing an additional 1,331,988 shares in the last quarter. Lyrical Asset Management LP grew its holdings in shares of TD SYNNEX by 0.3% during the 4th quarter. Lyrical Asset Management LP now owns 1,277,884 shares of the business services provider’s stock valued at $137,513,000 after purchasing an additional 3,571 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in TD SYNNEX by 2.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,124,694 shares of the business services provider’s stock valued at $112,312,000 after purchasing an additional 25,054 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 219,363 shares in the company, valued at approximately $25,400,041.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the sale, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total value of $1,157,900.00. Following the sale, the chief executive officer now directly owns 219,363 shares in the company, valued at $25,400,041.77. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock worth $5,833,100 over the last three months. Insiders own 1.90% of the company’s stock.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be issued a $0.40 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.60 annualized dividend and a yield of 1.39%. TD SYNNEX’s dividend payout ratio is currently 22.41%.

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.