TD SYNNEX (NYSE:SNX) Issues Q2 Earnings Guidance

TD SYNNEX (NYSE:SNX) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.45-2.95 for the period, compared to the consensus earnings per share estimate of $3.03. The company issued revenue guidance of $13.9-14.7 billion, compared to the consensus revenue estimate of $14.72 billion.

Wall Street Analyst Weigh In

SNX has been the subject of several research analyst reports. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their price objective for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Royal Bank of Canada upped their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Finally, Barrington Research lifted their price objective on TD SYNNEX from $138.00 to $156.00 and gave the stock an “outperform” rating in a report on Thursday, March 20th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $149.75.

TD SYNNEX Stock Performance

NYSE SNX opened at $125.43 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. TD SYNNEX has a fifty-two week low of $107.84 and a fifty-two week high of $145.10. The business has a fifty day moving average of $136.91 and a 200-day moving average of $125.70. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share 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 firm had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. During the same period in the previous year, the firm posted $2.99 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, analysts predict that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were paid a $0.44 dividend. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.40%. The ex-dividend date was Friday, January 24th. TD SYNNEX’s payout ratio is presently 22.11%.

Insiders Place Their Bets

In related news, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock valued at $6,353,261 in the last quarter. 1.00% of the stock is currently owned by company insiders.

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.