TD SYNNEX (SNX) to Release Quarterly Earnings on Thursday

TD SYNNEX (NYSE:SNX) will be issuing its quarterly earnings data before the market opens on Thursday, September 26th. Analysts expect the company to announce earnings of $2.69 per share for the quarter. TD SYNNEX has set its Q3 guidance at $2.55-3.05 EPS and its Q3 2024 guidance at 2.550-3.050 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data 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). The firm had revenue of $13.95 billion during the quarter, compared to analyst estimates of $14.12 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. On average, analysts expect TD SYNNEX to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $115.58 on Thursday. The company has a 50-day moving average price of $115.71 and a 200 day moving average price of $117.29. TD SYNNEX has a 52 week low of $89.73 and a 52 week 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. The company has a market cap of $9.88 billion, a P/E ratio of 16.19, a PEG ratio of 1.10 and a beta of 1.49.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.38%. TD SYNNEX’s payout ratio is 22.41%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. UBS Group lifted their price objective on TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Barrington Research reaffirmed an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Wednesday, June 26th. Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $135.00 to $140.00 in a research report on Monday, July 15th. Bank of America decreased their price target on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Finally, JPMorgan Chase & Co. decreased their price target 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. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.33.

Insider Activity

In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the sale, 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. In the last 90 days, insiders have sold 35,188 shares of company stock worth $3,998,655. 1.90% of the stock is currently owned by corporate insiders.

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.