TD SYNNEX (NYSE:SNX) Issues Quarterly Earnings Results

TD SYNNEX (NYSE:SNX) posted its earnings results on Thursday. The business services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06, Briefing.com reports. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The firm had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. During the same period last year, the firm earned $2.71 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. TD SYNNEX updated its Q4 guidance to $2.80-3.30 EPS and its Q4 2024 guidance to 2.800-3.300 EPS.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock traded up $1.58 on Friday, hitting $120.29. 102,130 shares of the company were exchanged, compared to its average volume of 822,622. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 1.18 and a beta of 1.49. The company has a 50-day moving average price of $116.14 and a 200 day moving average price of $117.76. TD SYNNEX has a 1-year low of $89.73 and a 1-year high of $133.85. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s dividend payout ratio is currently 22.41%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SNX shares. Barrington Research restated an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Monday. UBS Group raised 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. Bank of America dropped their target price on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $128.25.

Insider Transactions at TD SYNNEX

In other news, 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 transaction of $1,260,111.74. Following the transaction, the chief financial officer now directly owns 45,115 shares in the company, valued at approximately $4,968,966.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, COO Patrick Zammit sold 3,513 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 140,205 shares in the company, valued at $15,882,422.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marshall Witt sold 11,441 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 $4,968,966.10. The disclosure for this sale can be found here. Insiders have sold a total of 15,188 shares of company stock worth $1,685,455 in the last ninety days. 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.