TD SYNNEX Co. (SNX) to Issue Quarterly Dividend of $0.44 on April 25th

TD SYNNEX Co. (NYSE:SNX) announced a quarterly dividend on Thursday, March 27th, RTT News reports. Shareholders of record on Friday, April 11th will be paid a dividend of 0.44 per share by the business services provider on Friday, April 25th. This represents a $1.76 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, April 11th.

TD SYNNEX has increased its dividend by an average of 22.1% annually over the last three years. TD SYNNEX has a dividend payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect TD SYNNEX to earn $13.62 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 12.9%.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $104.45 on Friday. TD SYNNEX has a fifty-two week low of $98.00 and a fifty-two week high of $145.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The company has a market cap of $8.81 billion, a PE ratio of 13.12, a P/E/G ratio of 1.06 and a beta of 1.51. The business has a 50-day simple moving average of $135.67 and a two-hundred day simple moving average of $125.53.

TD SYNNEX (NYSE:SNX) last released its 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 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 company earned $2.99 earnings per share. TD SYNNEX’s revenue was up 4.0% on a year-over-year basis. As a group, equities analysts expect that TD SYNNEX will post 11.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNX has been the topic of a number of recent research reports. Cfra dropped their target price on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday. Royal Bank of Canada lifted their price target on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Barrington Research reaffirmed an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a report on Friday. Barclays dropped their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the stock in a transaction dated Thursday, January 16th. The shares were 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 in the company, valued at approximately $660,804.48. This represents a 14.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the sale, the director now owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,172 shares of company stock valued at $6,353,261. 1.00% of the stock is owned by corporate insiders.

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.