Q3 2024 EPS Estimates for TD SYNNEX Co. Lifted by Analyst (NYSE:SNX)

TD SYNNEX Co. (NYSE:SNX) – Analysts at Zacks Research upped their Q3 2024 earnings estimates for TD SYNNEX in a report released on Tuesday, April 16th. Zacks Research analyst R. Department now expects that the business services provider will earn $2.71 per share for the quarter, up from their prior forecast of $2.65. 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 FY2024 earnings at $11.18 EPS, Q1 2025 earnings at $2.78 EPS, Q3 2025 earnings at $3.14 EPS, Q4 2025 earnings at $3.42 EPS, FY2025 earnings at $12.32 EPS and FY2026 earnings at $14.24 EPS.

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

Other analysts have also recently issued reports about the stock. Barclays raised 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. Royal Bank of Canada restated a “sector perform” rating and set a $118.00 price target (up from $110.00) on shares of TD SYNNEX in a report on Wednesday, March 27th. Bank of America lifted their target price on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. UBS Group raised shares of TD SYNNEX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $115.00 to $145.00 in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.82.

TD SYNNEX Stock Performance

SNX stock opened at $113.34 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22. The stock has a market cap of $10.10 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.08 and a beta of 1.64. The firm has a 50 day simple moving average of $107.55 and a 200 day simple moving average of $102.62. TD SYNNEX has a 52 week low of $86.30 and a 52 week high of $119.87.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds have recently made changes to their positions in the business. Maryland State Retirement & Pension System boosted its holdings in shares of TD SYNNEX by 16.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 4,781 shares of the business services provider’s stock valued at $544,000 after buying an additional 680 shares during the last quarter. State of Alaska Department of Revenue grew its position in TD SYNNEX by 500.1% in the first quarter. State of Alaska Department of Revenue now owns 33,239 shares of the business services provider’s stock valued at $3,758,000 after acquiring an additional 27,700 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of TD SYNNEX by 13.8% during the first quarter. State of Michigan Retirement System now owns 14,021 shares of the business services provider’s stock worth $1,586,000 after purchasing an additional 1,700 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of TD SYNNEX by 85.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 13,199 shares of the business services provider’s stock worth $1,493,000 after purchasing an additional 6,098 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of TD SYNNEX by 9.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,571 shares of the business services provider’s stock worth $743,000 after purchasing an additional 548 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the transaction, the insider now directly owns 134,706 shares in the company, valued at approximately $15,908,778.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Richard T. Hume sold 10,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 229,363 shares of the company’s stock, valued at approximately $24,213,851.91. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,355 shares of company stock worth $4,408,685. Company insiders own 1.90% of the company’s stock.

TD SYNNEX Announces Dividend

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