TD SYNNEX (NYSE:SNX) Releases Q2 Earnings Guidance

TD SYNNEX (NYSE:SNX) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $2.50-3.00 for the period, compared to the consensus earnings per share estimate of $2.78. The company issued revenue guidance of $13.3-14.9 billion, compared to the consensus revenue estimate of $14.26 billion. TD SYNNEX also updated its Q2 2024 guidance to 2.500-3.000 EPS.

Analysts Set New Price Targets

SNX has been the subject of several research analyst reports. Cfra lifted their target price on TD SYNNEX from $110.00 to $113.00 and gave the stock a hold rating in a research note on Tuesday. Barclays upped their price target on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an equal weight rating in a research note on Wednesday. Barrington Research lifted their price objective on shares of TD SYNNEX from $122.00 to $138.00 and gave the stock an outperform rating in a research note on Thursday. Royal Bank of Canada reaffirmed a sector perform rating and set a $118.00 target price (up from $110.00) on shares of TD SYNNEX in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered TD SYNNEX from an overweight rating to a neutral rating and raised their price objective for the stock from $112.00 to $113.00 in a research note on Monday, January 8th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $116.00.

TD SYNNEX Trading Down 2.5 %

Shares of SNX opened at $113.06 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 1.22. TD SYNNEX has a 52-week low of $86.30 and a 52-week high of $116.05. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 1.11 and a beta of 1.63. The business’s fifty day moving average is $103.60 and its 200-day moving average is $101.02.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, January 9th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.57. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. The company had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $14.54 billion. During the same period in the prior year, the business earned $3.30 earnings per share. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. Equities analysts anticipate that TD SYNNEX will post 11.17 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Thursday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is currently 23.22%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $105.57, for a total value of $1,055,700.00. Following the completion of the transaction, the chief executive officer now directly owns 229,363 shares in the company, valued at approximately $24,213,851.91. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Michael Urban sold 4,355 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $107.00, for a total transaction of $465,985.00. Following the completion of the sale, the insider now owns 20,270 shares of the company’s stock, valued at approximately $2,168,890. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.57, for a total value of $1,055,700.00. Following the completion of the sale, the chief executive officer now owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The disclosure for this sale can be found here. Insiders sold a total of 2,289,905 shares of company stock worth $232,556,362 in the last quarter. 1.90% of the stock is owned by insiders.

Institutional Trading of TD SYNNEX

Institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in TD SYNNEX by 26.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,902 shares of the business services provider’s stock worth $3,219,000 after buying an additional 6,255 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of TD SYNNEX by 20.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 22,084 shares of the business services provider’s stock valued at $2,376,000 after purchasing an additional 3,733 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in TD SYNNEX by 13.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,525 shares of the business services provider’s stock valued at $272,000 after buying an additional 302 shares during the period. Barclays PLC raised its holdings in shares of TD SYNNEX by 67.1% in the 4th quarter. Barclays PLC now owns 64,238 shares of the business services provider’s stock valued at $6,912,000 after acquiring an additional 25,802 shares in the last quarter. Finally, Atlas Capital Advisors LLC increased its position in shares of TD SYNNEX by 8.8% in the fourth quarter. Atlas Capital Advisors LLC now owns 2,361 shares of the business services provider’s stock worth $254,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

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.