Q3 2024 EPS Estimates for TD SYNNEX Co. (NYSE:SNX) Reduced by Barrington Research

TD SYNNEX Co. (NYSE:SNX) – Investment analysts at Barrington Research dropped their Q3 2024 EPS estimates for TD SYNNEX in a research note issued to investors on Wednesday, June 26th. Barrington Research analyst V. Colicchio now expects that the business services provider will post earnings of $2.72 per share for the quarter, down from their previous estimate of $2.78. 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 $11.38 per share.

A number of other research analysts have also issued reports on SNX. Bank of America reduced their price target on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. lowered their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $135.00 price target on shares of TD SYNNEX in a research note on Wednesday. Barclays raised their price objective 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. Finally, Cfra increased their price target on TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research note on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus price target of $122.82.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $115.54 on Friday. TD SYNNEX has a 12-month low of $89.73 and a 12-month high of $133.85. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47. The company has a market cap of $10.29 billion, a PE ratio of 16.18, a P/E/G ratio of 1.12 and a beta of 1.55. The stock has a 50 day simple moving average of $124.68 and a 200-day simple moving average of $112.51.

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

TD SYNNEX Dividend Announcement

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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.38%. The ex-dividend date is Friday, July 12th. TD SYNNEX’s dividend payout ratio is currently 22.41%.

Insider Transactions at TD SYNNEX

In other news, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were 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 directly owns 219,363 shares in the company, valued at approximately $25,400,041.77. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 219,363 shares in the company, valued at $25,400,041.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction 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 approximately $15,908,778.60. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in shares of TD SYNNEX by 33,158.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock worth $143,767,000 after buying an additional 1,331,988 shares during the last quarter. Vanguard Group Inc. raised its holdings in TD SYNNEX by 23.4% in the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock valued at $751,143,000 after acquiring an additional 1,261,474 shares in the last quarter. Norges Bank bought a new position in TD SYNNEX in the fourth quarter worth $79,506,000. Lind Value II ApS acquired a new stake in TD SYNNEX during the first quarter worth $77,858,000. Finally, Lord Abbett & CO. LLC bought a new stake in TD SYNNEX in the 1st quarter valued at $57,981,000. Institutional investors and hedge funds own 84.00% 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.