TD SYNNEX Co. (NYSE:SNX) to Post FY2024 Earnings of $11.16 Per Share, Barrington Research Forecasts

TD SYNNEX Co. (NYSE:SNX) – Stock analysts at Barrington Research lowered their FY2024 earnings per share (EPS) estimates for TD SYNNEX in a report released on Wednesday, June 26th. Barrington Research analyst V. Colicchio now expects that the business services provider will earn $11.16 per share for the year, down from their previous estimate of $11.36. Barrington Research has a “Outperform” rating and a $138.00 price objective on the stock. The consensus estimate for TD SYNNEX’s current full-year earnings is $11.25 per share. Barrington Research also issued estimates for TD SYNNEX’s Q4 2024 earnings at $2.97 EPS and FY2025 earnings at $12.05 EPS.

Several other research firms have also weighed in on SNX. Barclays increased their target price 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. Cfra increased their target price on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. cut their price objective on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $135.00 price target on shares of TD SYNNEX in a research note on Wednesday, June 26th. Finally, Bank of America cut their price target on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Four 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 currently has an average rating of “Moderate Buy” and an average price target of $126.10.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $112.37 on Monday. The stock has a 50-day moving average of $124.63 and a 200-day moving average of $112.84. TD SYNNEX has a one year low of $89.73 and a one year high of $133.85. The stock has a market cap of $10.01 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.14 and a beta of 1.52. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 1.42%. TD SYNNEX’s dividend payout ratio is presently 22.41%.

Insider Activity

In other news, 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 value of $2,362,000.00. Following the completion of the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total value 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 sale 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 firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the sale, the chief executive officer now 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. In the last ninety days, insiders have sold 50,000 shares of company stock valued at $5,833,100. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

A number of large investors have recently made changes to their positions in SNX. Benjamin F. Edwards & Company Inc. grew its holdings in TD SYNNEX by 121.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after buying an additional 140 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of TD SYNNEX in the first quarter valued at about $32,000. Pineridge Advisors LLC bought a new position in TD SYNNEX during the fourth quarter worth about $33,000. GAMMA Investing LLC raised its stake in TD SYNNEX by 217.5% in the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock worth $52,000 after purchasing an additional 311 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in TD SYNNEX in the 1st quarter valued at about $68,000. 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.