TD SYNNEX (NYSE:SNX) Releases Q3 2024 Earnings Guidance

TD SYNNEX (NYSE:SNX) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 2.550-3.050 for the period, compared to the consensus estimate of 2.930. The company issued revenue guidance of $13.3 billion-$14.9 billion, compared to the consensus revenue estimate of $14.5 billion. TD SYNNEX also updated its Q3 guidance to $2.55-3.05 EPS.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $115.54 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 1.12 and a beta of 1.55. The stock’s fifty day simple moving average is $124.68 and its 200 day simple moving average is $112.51. TD SYNNEX has a 52-week low of $89.73 and a 52-week high of $133.85.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.12. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The business had revenue of $13.98 billion for the quarter, compared to the consensus estimate of $14.37 billion. As a group, sell-side analysts forecast that TD SYNNEX will post 11.38 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.38%. TD SYNNEX’s dividend payout ratio is 22.41%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SNX. Bank of America lowered their price target on TD SYNNEX from $135.00 to $132.00 and set a buy rating on the stock in a report on Thursday. Barclays lifted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the company an equal weight rating in a research report on Wednesday, March 27th. Cfra lifted their price objective on TD SYNNEX from $110.00 to $113.00 and gave the company a hold rating in a research report on Tuesday, March 26th. UBS Group lifted their price objective on TD SYNNEX from $145.00 to $150.00 and gave the company a buy rating in a research report on Wednesday. Finally, Barrington Research reissued an outperform rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Wednesday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $122.82.

Insiders Place Their Bets

In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total value of $1,157,900.00. Following the transaction, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The disclosure for this sale can be found here. Insiders own 1.90% 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.