Barrington Research Research Analysts Reduce Earnings Estimates for TD SYNNEX Co. (NYSE:SNX)

TD SYNNEX Co. (NYSE:SNX) – Analysts at Barrington Research cut their FY2024 earnings estimates for TD SYNNEX in a research report issued to clients and investors on Wednesday, June 26th. Barrington Research analyst V. Colicchio now expects that the business services provider will earn $11.16 per share for the year, down from their previous estimate of $11.36. Barrington Research has a “Outperform” rating and a $138.00 price objective 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 research analysts have also recently weighed in on SNX. Barclays boosted their price target on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. Cfra upped their price objective on TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research note on Tuesday, March 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $135.00 price target on shares of TD SYNNEX in a report on Wednesday, June 26th. UBS Group lifted their price objective on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. reduced 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 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.10.

TD SYNNEX Price Performance

SNX opened at $115.40 on Monday. TD SYNNEX has a 1 year low of $89.73 and a 1 year high of $133.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.75. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 1.13 and a beta of 1.55. The firm’s fifty day moving average price is $124.72 and its two-hundred day moving average price is $112.75.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders 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 dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, July 12th. TD SYNNEX’s payout ratio is 22.41%.

Insider Transactions at TD SYNNEX

In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,580,095.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,000 shares of company stock valued at $5,833,100. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. grew its stake 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 valued at $143,767,000 after buying an additional 1,331,988 shares during the last quarter. Vanguard Group Inc. increased its stake 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 worth $751,143,000 after purchasing an additional 1,261,474 shares during the period. Norges Bank purchased a new position in TD SYNNEX in the 4th quarter worth approximately $79,506,000. Lind Value II ApS bought a new stake in TD SYNNEX in the first quarter valued at approximately $77,858,000. Finally, Lord Abbett & CO. LLC bought a new position in shares of TD SYNNEX in the first quarter worth approximately $57,981,000. 84.00% of the stock is currently owned by institutional investors.

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.