TD SYNNEX (NYSE:SNX) Issues Quarterly Earnings Results

TD SYNNEX (NYSE:SNX) posted its quarterly earnings results on Thursday. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.06, Briefing.com reports. The business had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.71 earnings per share. TD SYNNEX updated its Q4 guidance to $2.80-3.30 EPS and its Q4 2024 guidance to 2.800-3.300 EPS.

TD SYNNEX Price Performance

SNX opened at $119.67 on Friday. The stock has a 50-day moving average price of $116.22 and a 200-day moving average price of $117.86. The firm has a market cap of $10.23 billion, a PE ratio of 16.76, a P/E/G ratio of 1.18 and a beta of 1.49. TD SYNNEX has a 1 year low of $89.73 and a 1 year high of $133.85. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. TD SYNNEX’s payout ratio is 22.41%.

Analyst Ratings Changes

A number of equities analysts have commented on SNX shares. Barclays lifted their price target on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Friday. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. UBS Group upped their price target on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Barrington Research reissued an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.57.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the transaction, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total value of $1,260,111.74. Following the transaction, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Patrick Zammit sold 3,513 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the transaction, the chief operating officer now directly owns 140,205 shares in the company, valued at approximately $15,882,422.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,188 shares of company stock valued at $1,685,455. 1.90% of the stock is owned by corporate 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.