Q2 2024 EPS Estimates for TD SYNNEX Co. Raised by Zacks Research (NYSE:SNX)

TD SYNNEX Co. (NYSE:SNX) – Zacks Research raised their Q2 2024 earnings per share (EPS) estimates for shares of TD SYNNEX in a research note issued on Tuesday, April 16th. Zacks Research analyst R. Department now anticipates that the business services provider will post earnings of $2.60 per share for the quarter, up from their previous estimate of $2.57. The consensus estimate for TD SYNNEX’s current full-year earnings is $11.33 per share. Zacks Research also issued estimates for TD SYNNEX’s Q4 2024 earnings at $3.04 EPS, Q2 2025 earnings at $2.97 EPS and Q1 2026 earnings at $3.32 EPS.

TD SYNNEX (NYSE:SNX) last issued its quarterly 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. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. The company had revenue of $13.98 billion during the quarter, compared to analysts’ expectations of $14.37 billion.

A number of other equities research analysts also recently commented on the company. UBS Group upgraded TD SYNNEX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $115.00 to $145.00 in a report on Tuesday. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Cfra lifted their price target on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research report on Tuesday, March 26th. Bank of America boosted their price target on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $118.00 target price (up from $110.00) on shares of TD SYNNEX in a report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.82.

TD SYNNEX Stock Performance

SNX stock opened at $113.75 on Thursday. TD SYNNEX has a twelve month low of $86.30 and a twelve month high of $119.87. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The company has a market cap of $10.14 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 1.06 and a beta of 1.64. The business’s fifty day moving average is $107.31 and its 200-day moving average is $102.52.

Institutional Trading of TD SYNNEX

A number of large investors have recently added to or reduced their stakes in SNX. Apollo Management Holdings L.P. bought a new stake in shares of TD SYNNEX in the 1st quarter valued at about $3,622,519,000. Pacer Advisors Inc. raised its stake in TD SYNNEX by 33,158.8% in 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 period. Norges Bank acquired a new stake in shares of TD SYNNEX in the fourth quarter valued at approximately $79,506,000. AQR Capital Management LLC boosted its stake in shares of TD SYNNEX by 330.6% during the 1st quarter. AQR Capital Management LLC now owns 679,948 shares of the business services provider’s stock worth $64,738,000 after acquiring an additional 522,055 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of TD SYNNEX by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 5,379,928 shares of the business services provider’s stock worth $578,934,000 after acquiring an additional 371,322 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, insider Michael Urban sold 5,000 shares of TD SYNNEX stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $105.00, for a total value of $525,000.00. Following the sale, the insider now directly owns 26,386 shares in the company, valued at approximately $2,770,530. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the sale, the chief executive officer now owns 229,363 shares in the company, valued at approximately $24,213,851.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Urban sold 5,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $105.00, for a total transaction of $525,000.00. Following the completion of the transaction, the insider now directly owns 26,386 shares of the company’s stock, valued at $2,770,530. The disclosure for this sale can be found here. Insiders sold 39,355 shares of company stock valued at $4,408,685 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Thursday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is currently 23.22%.

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.