TD SYNNEX (NYSE:SNX) Releases Q4 Earnings Guidance

TD SYNNEX (NYSE:SNX) updated its fourth quarter earnings guidance on Thursday. The company provided EPS guidance of $2.80-3.30 for the period, compared to the consensus EPS estimate of $3.22. The company issued revenue guidance of $14.9-15.7 billion, compared to the consensus revenue estimate of $15.15 billion.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SNX. Barrington Research reaffirmed an outperform rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Monday. Bank of America decreased their price target on 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 raised TD SYNNEX from a sector perform rating to an outperform rating and boosted their price objective for the company from $135.00 to $140.00 in a research note on Monday, July 15th. UBS Group upped their target price on TD SYNNEX from $145.00 to $150.00 and gave the company a buy rating in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. lowered their target price on TD SYNNEX from $126.00 to $123.00 and set a neutral rating for the company in a report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, TD SYNNEX has a consensus rating of Moderate Buy and an average target price of $128.25.

TD SYNNEX Trading Down 1.3 %

Shares of TD SYNNEX stock opened at $117.29 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26. TD SYNNEX has a 52 week low of $89.73 and a 52 week high of $133.85. The stock has a 50 day moving average price of $116.11 and a two-hundred day moving average price of $117.75. The stock has a market capitalization of $10.02 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.49.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The business had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $14.12 billion. As a group, equities analysts anticipate that TD SYNNEX will post 11.22 earnings per share for the current fiscal year.

Insider Transactions at TD SYNNEX

In other news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total value of $1,260,111.74. Following the completion of the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the sale, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total value of $1,260,111.74. Following the completion of the transaction, the chief financial officer now owns 45,115 shares in the company, valued at approximately $4,968,966.10. The disclosure for this sale can be found here. Insiders sold a total of 15,188 shares of company stock valued at $1,685,455 over the last three months. Corporate insiders own 1.90% of the company’s stock.

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.