$15.34 Billion in Sales Expected for TD SYNNEX Co. (NYSE:SNX) This Quarter

Equities analysts predict that TD SYNNEX Co. (NYSE:SNXGet Rating) will post sales of $15.34 billion for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for TD SYNNEX’s earnings, with the highest sales estimate coming in at $15.37 billion and the lowest estimate coming in at $15.32 billion. TD SYNNEX reported sales of $5.86 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 161.8%. The company is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that TD SYNNEX will report full-year sales of $62.77 billion for the current year, with estimates ranging from $62.15 billion to $63.10 billion. For the next fiscal year, analysts forecast that the company will post sales of $65.26 billion, with estimates ranging from $64.36 billion to $66.20 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow TD SYNNEX.

TD SYNNEX (NYSE:SNXGet Rating) last announced its earnings results on Thursday, March 24th. The business services provider reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.32. TD SYNNEX had a return on equity of 14.87% and a net margin of 1.04%. The company had revenue of $15.47 billion for the quarter, compared to the consensus estimate of $15.31 billion. During the same period last year, the business posted $1.82 EPS. The company’s revenue was up 213.2% on a year-over-year basis.

Several brokerages have weighed in on SNX. Raymond James lifted their target price on TD SYNNEX from $170.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, March 25th. Stifel Nicolaus raised TD SYNNEX from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a report on Thursday, April 14th. Zacks Investment Research cut TD SYNNEX from a “buy” rating to a “hold” rating and set a $113.00 price target for the company. in a report on Tuesday, March 15th. Finally, StockNews.com started coverage on TD SYNNEX in a report on Thursday, March 31st. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, TD SYNNEX has an average rating of “Buy” and an average price target of $144.00.

Shares of SNX stock traded up $3.16 during midday trading on Monday, hitting $99.04. The company had a trading volume of 357,806 shares, compared to its average volume of 295,302. The company’s 50 day simple moving average is $103.71 and its 200 day simple moving average is $106.43. TD SYNNEX has a 52-week low of $93.49 and a 52-week high of $130.93. The stock has a market cap of $9.52 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 0.83 and a beta of 1.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 0.73.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 22nd. Investors of record on Monday, April 18th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, April 14th. This represents a $1.20 annualized dividend and a yield of 1.21%. TD SYNNEX’s dividend payout ratio is presently 19.35%.

In other news, CFO Marshall Witt sold 909 shares of the business’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $102.57, for a total value of $93,236.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $105.44, for a total value of $1,054,400.00. Following the completion of the transaction, the chief executive officer now directly owns 147,747 shares of the company’s stock, valued at $15,578,443.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,011 shares of company stock valued at $1,764,609. 1.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNX. AXA S.A. purchased a new stake in shares of TD SYNNEX in the third quarter valued at $9,078,000. PNC Financial Services Group Inc. grew its position in shares of TD SYNNEX by 3.0% in the third quarter. PNC Financial Services Group Inc. now owns 5,944 shares of the business services provider’s stock valued at $619,000 after purchasing an additional 174 shares during the period. Brandywine Global Investment Management LLC grew its position in shares of TD SYNNEX by 47.5% in the third quarter. Brandywine Global Investment Management LLC now owns 45,567 shares of the business services provider’s stock valued at $4,744,000 after purchasing an additional 14,667 shares during the period. Captrust Financial Advisors grew its position in shares of TD SYNNEX by 84.7% in the third quarter. Captrust Financial Advisors now owns 3,357 shares of the business services provider’s stock valued at $349,000 after purchasing an additional 1,539 shares during the period. Finally, CIBC Asset Management Inc grew its position in shares of TD SYNNEX by 86.8% in the fourth quarter. CIBC Asset Management Inc now owns 3,957 shares of the business services provider’s stock valued at $453,000 after purchasing an additional 1,839 shares during the period. 85.54% of the stock is owned by institutional investors.

About TD SYNNEX (Get Rating)

TD SYNNEX Corporation provides business process services in the United States and internationally. The company distributes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, consumer electronics, information technology (IT) systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics, and complementary products.

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