Brokers Issue Forecasts for TD SYNNEX Co.’s FY2024 Earnings (NYSE:SNX)

TD SYNNEX Co. (NYSE:SNX) – Barrington Research lowered their FY2024 EPS estimates for TD SYNNEX in a note issued to investors on Wednesday, June 26th. Barrington Research analyst V. Colicchio now anticipates that the business services provider will post earnings per share of $11.16 for the year, down from their prior forecast of $11.36. Barrington Research currently has a “Outperform” rating and a $138.00 target price on the stock. The consensus estimate for TD SYNNEX’s current full-year earnings is $11.25 per share. Barrington Research also issued estimates for TD SYNNEX’s Q4 2024 earnings at $2.97 EPS and FY2025 earnings at $12.05 EPS.

Several other analysts have also recently issued reports on SNX. UBS Group upped their price target on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Cfra boosted their price target on TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a report on Tuesday, March 26th. Barclays raised their price objective on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. lowered 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 note on Wednesday, June 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $135.00 price target on shares of TD SYNNEX in a report on Wednesday, June 26th. Four 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 presently has a consensus rating of “Moderate Buy” and an average price target of $126.10.

TD SYNNEX Price Performance

SNX stock opened at $115.40 on Monday. The company has a market capitalization of $10.28 billion, a PE ratio of 16.16, a P/E/G ratio of 1.13 and a beta of 1.55. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average is $124.72 and its two-hundred day moving average is $112.75. TD SYNNEX has a 52-week low of $89.73 and a 52-week high of $133.85.

Institutional Investors Weigh In On TD SYNNEX

A number of large investors have recently made changes to their positions in SNX. Northern Trust Corp raised its position in TD SYNNEX by 7.0% during the third quarter. Northern Trust Corp now owns 321,245 shares of the business services provider’s stock valued at $32,080,000 after buying an additional 21,123 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of TD SYNNEX by 193.1% during the third quarter. Tower Research Capital LLC TRC now owns 5,879 shares of the business services provider’s stock worth $587,000 after purchasing an additional 3,873 shares during the period. Teza Capital Management LLC acquired a new position in TD SYNNEX in the 3rd quarter valued at approximately $218,000. Shelton Capital Management purchased a new stake in shares of TD SYNNEX during the third quarter worth $207,000. Finally, Axxcess Wealth Management LLC purchased a new stake in shares of TD SYNNEX during the 3rd quarter worth about $328,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Activity

In related news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the transaction, the insider now owns 134,706 shares in the company, valued at $15,908,778.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Dennis Polk sold 20,000 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX 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 owns 219,363 shares in the company, valued at approximately $25,400,041.77. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,000 shares of company stock valued at $5,833,100. Company insiders own 1.90% of the company’s stock.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Friday, July 12th. TD SYNNEX’s dividend payout ratio (DPR) is 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.