TD SYNNEX (NYSE:SNX) Updates Q4 2024 Earnings Guidance

TD SYNNEX (NYSE:SNX) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.800-3.300 for the period, compared to the consensus EPS estimate of 3.220. The company issued revenue guidance of $14.9 billion-$15.7 billion, compared to the consensus revenue estimate of $15.2 billion. TD SYNNEX also updated its Q4 guidance to $2.80-3.30 EPS.

Analyst Ratings Changes

SNX has been the subject of a number of recent analyst reports. UBS Group raised their price objective on TD SYNNEX from $145.00 to $150.00 and gave the company a buy rating in a research note on Wednesday, June 26th. Barrington Research restated an outperform rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Monday. Bank of America decreased their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a buy rating for the company in a report on Thursday, June 27th. Royal Bank of Canada upgraded shares of TD SYNNEX from a sector perform rating to an outperform rating and upped their target price for the company from $135.00 to $140.00 in a research note on Monday, July 15th. Finally, StockNews.com upgraded TD SYNNEX from a hold rating to a buy rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, TD SYNNEX has an average rating of Moderate Buy and a consensus price target of $128.25.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $115.48 on Thursday. The company has a market cap of $9.87 billion, a PE ratio of 16.43, a P/E/G ratio of 1.18 and a beta of 1.49. TD SYNNEX has a fifty-two week low of $89.73 and a fifty-two week high of $133.85. The firm has a 50-day simple moving average of $116.11 and a 200 day simple moving average of $117.75. 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 (NYSE:SNX) last announced its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The company had revenue of $13.95 billion for the quarter, compared to analyst estimates of $14.12 billion. On average, sell-side analysts anticipate that TD SYNNEX will post 11.22 EPS for the current year.

Insiders Place Their Bets

In other news, COO Patrick Zammit sold 3,513 shares of the business’s 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 completion of the transaction, the chief operating officer now owns 140,205 shares of the company’s stock, valued at $15,882,422.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of TD SYNNEX 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 sale, the chief financial officer now owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Patrick Zammit sold 3,513 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $113.28, for a total value 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 have sold 15,188 shares of company stock valued at $1,685,455 over the last three months. 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.