TD SYNNEX (NYSE:SNX) Announces Earnings Results, Beats Estimates By $0.06 EPS

TD SYNNEX (NYSE:SNX) announced its quarterly earnings data on Thursday. The business services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $14.11 billion. During the same period in the previous year, the company earned $2.71 earnings per share. TD SYNNEX’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 Stock Performance

Shares of SNX traded up $0.96 during trading hours on Friday, reaching $119.67. 830,626 shares of the company’s stock traded hands, compared to its average volume of 826,331. The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 1.18 and a beta of 1.49. The business’s fifty day simple moving average is $116.22 and its two-hundred day simple moving average is $117.86. TD SYNNEX has a twelve month low of $89.73 and a twelve month 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 0.78.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.34%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

Insider Activity at TD SYNNEX

In related 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 sale, the chief financial officer now owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction 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 approximately $4,968,966.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Patrick Zammit sold 3,513 shares of the business’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 transaction of $397,952.64. Following the completion of the sale, the chief operating officer now owns 140,205 shares in the company, valued at $15,882,422.40. The disclosure for this sale can be found here. Insiders sold 15,188 shares of company stock worth $1,685,455 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on SNX. UBS Group raised their price objective on TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research report on Friday. Bank of America cut their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. JPMorgan Chase & Co. decreased their target price on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Finally, Barrington Research reiterated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $132.57.

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.