TD SYNNEX Corporation (NYSE:SNX) to Issue Quarterly Dividend of $0.48

TD SYNNEX Corporation (NYSE:SNX) declared a quarterly dividend on Tuesday, March 31st. Shareholders of record on Wednesday, April 15th will be given a dividend of 0.48 per share by the business services provider on Wednesday, April 29th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, April 15th.

TD SYNNEX has raised its dividend by an average of 0.3%annually over the last three years and has increased its dividend every year for the last 5 years. TD SYNNEX has a dividend payout ratio of 14.4% 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 $1.92 annual dividend with an expected future payout ratio of 14.1%.

TD SYNNEX Stock Up 5.3%

Shares of TD SYNNEX stock traded up $8.52 on Tuesday, reaching $168.65. 2,288,587 shares of the company were exchanged, compared to its average volume of 770,084. TD SYNNEX has a one year low of $92.23 and a one year high of $175.56. The company has a market capitalization of $13.60 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.13 and a beta of 1.37. The company has a current ratio of 1.21, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $158.73 and a 200 day moving average of $155.17.

TD SYNNEX (NYSE:SNX) last released its earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, beating the consensus estimate of $3.24 by $1.49. The business had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $15.59 billion. TD SYNNEX had a net margin of 1.32% and a return on equity of 12.60%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the business earned $2.80 earnings per share. On average, equities research analysts forecast that TD SYNNEX will post 11.88 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on SNX. Morgan Stanley increased their price target on shares of TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of TD SYNNEX in a report on Monday, December 22nd. The Goldman Sachs Group started coverage on shares of TD SYNNEX in a research note on Tuesday, January 13th. They issued a “buy” rating and a $180.00 target price for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of TD SYNNEX in a report on Wednesday, January 21st. Finally, Barrington Research reissued an “outperform” rating and set a $182.00 price target on shares of TD SYNNEX in a research report on Friday. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average target price of $174.70.

TD SYNNEX Company Profile

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.