Royal Bank of Canada Issues Pessimistic Forecast for TD SYNNEX (NYSE:SNX) Stock Price

TD SYNNEX (NYSE:SNX) had its price target lowered by Royal Bank of Canada from $165.00 to $145.00 in a research note released on Friday,Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

SNX has been the subject of several other reports. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Barclays reduced their target price on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Cfra decreased their price target on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Barrington Research restated an “outperform” rating and issued a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. decreased their target price on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus price target of $137.22.

TD SYNNEX Price Performance

NYSE SNX opened at $101.83 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The company has a market cap of $8.55 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.06 and a beta of 1.36. TD SYNNEX has a 52 week low of $92.23 and a 52 week high of $145.10. The firm’s 50-day simple moving average is $126.24 and its two-hundred day simple moving average is $124.46.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The business had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. During the same period last year, the firm earned $2.99 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Research analysts predict that TD SYNNEX will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.44 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.73%. TD SYNNEX’s dividend payout ratio is presently 21.97%.

Insider Activity

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the sale, the director now owns 4,856 shares of the company’s stock, valued at $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the transaction, the director now directly owns 65,480 shares in the company, valued at $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,172 shares of company stock worth $4,000,861. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors have recently made changes to their positions in SNX. Merit Financial Group LLC bought a new stake in TD SYNNEX in the first quarter worth $215,000. NBC Securities Inc. lifted its stake in shares of TD SYNNEX by 137,750.0% in the 1st quarter. NBC Securities Inc. now owns 2,757 shares of the business services provider’s stock valued at $286,000 after acquiring an additional 2,755 shares during the last quarter. Lind Value II ApS lifted its stake in shares of TD SYNNEX by 17.6% in the 1st quarter. Lind Value II ApS now owns 708,645 shares of the business services provider’s stock valued at $73,671,000 after acquiring an additional 106,157 shares during the last quarter. GAMMA Investing LLC boosted its holdings in TD SYNNEX by 12,044.9% during the 1st quarter. GAMMA Investing LLC now owns 77,970 shares of the business services provider’s stock valued at $8,106,000 after acquiring an additional 77,328 shares during the period. Finally, Versant Capital Management Inc grew its position in TD SYNNEX by 115.1% during the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock worth $36,000 after acquiring an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.