Wall Street brokerages predict that Tech Data Corp (NASDAQ:TECD) will report $2.33 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Tech Data’s earnings, with the lowest EPS estimate coming in at $2.30 and the highest estimate coming in at $2.37. Tech Data reported earnings per share of $2.01 in the same quarter last year, which would suggest a positive year over year growth rate of 15.9%. The business is scheduled to report its next quarterly earnings results on Thursday, August 29th.
On average, analysts expect that Tech Data will report full year earnings of $11.98 per share for the current year, with EPS estimates ranging from $11.62 to $12.30. For the next year, analysts forecast that the firm will post earnings of $12.55 per share, with EPS estimates ranging from $12.01 to $13.12. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Tech Data.
Tech Data (NASDAQ:TECD) last released its quarterly earnings results on Thursday, May 30th. The company reported $2.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.06. Tech Data had a net margin of 0.98% and a return on equity of 15.28%. The business had revenue of $8.41 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same period in the prior year, the firm earned $1.84 earnings per share. Tech Data’s revenue was down 1.7% compared to the same quarter last year.
TECD has been the topic of several analyst reports. BidaskClub lowered shares of Tech Data from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th. Stifel Nicolaus lowered shares of Tech Data from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a report on Wednesday, April 17th. Citigroup cut their target price on shares of Tech Data from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Finally, Zacks Investment Research upgraded shares of Tech Data from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Tech Data presently has a consensus rating of “Hold” and an average price target of $99.60.
In related news, Director Harry J. Harczak, Jr. sold 2,200 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $95.29, for a total value of $209,638.00. Following the completion of the transaction, the director now owns 12,837 shares of the company’s stock, valued at $1,223,237.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael Rabinovitch sold 400 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $104.00, for a total transaction of $41,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,098 shares of the company’s stock, valued at approximately $634,192. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,208 shares of company stock worth $5,453,448. 1.10% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Tech Data in the 4th quarter worth approximately $35,317,000. Brandywine Global Investment Management LLC purchased a new stake in Tech Data in the fourth quarter worth $10,488,000. Two Sigma Advisers LP increased its stake in Tech Data by 447.1% in the fourth quarter. Two Sigma Advisers LP now owns 143,658 shares of the company’s stock worth $11,753,000 after purchasing an additional 117,400 shares during the period. Acadian Asset Management LLC increased its stake in Tech Data by 275.5% in the first quarter. Acadian Asset Management LLC now owns 159,211 shares of the company’s stock worth $16,304,000 after purchasing an additional 116,809 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Tech Data by 1,960.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 120,170 shares of the company’s stock worth $12,308,000 after buying an additional 114,338 shares in the last quarter. 99.69% of the stock is owned by institutional investors and hedge funds.
TECD stock traded up $0.41 during midday trading on Monday, reaching $98.23. The company’s stock had a trading volume of 2,275 shares, compared to its average volume of 344,482. Tech Data has a 52 week low of $66.93 and a 52 week high of $111.08. The stock has a market cap of $3.57 billion, a PE ratio of 8.62, a PEG ratio of 2.73 and a beta of 1.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.26.
About Tech Data
Tech Data Corporation operates as an IT distribution and solutions company. The company offers endpoint portfolio solutions, including personal computer systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics. It also provides advanced portfolio solutions, such as data center technologies comprising storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
Further Reading: Equal Weight Rating
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