TD SYNNEX (NYSE:SNX) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

TD SYNNEX (NYSE:SNX) issued its earnings results on Friday. The business services provider reported $3.09 EPS for the quarter, topping the consensus estimate of $3.05 by $0.04, Briefing.com reports. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The firm had revenue of $15.84 billion during the quarter, compared to the consensus estimate of $15.22 billion. During the same quarter in the previous year, the firm earned $3.13 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. TD SYNNEX updated its Q1 guidance to $2.65-3.15 EPS.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $122.01 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. TD SYNNEX has a one year low of $98.70 and a one year high of $133.85. The business’s 50 day simple moving average is $119.77 and its 200 day simple moving average is $117.85. The stock has a market capitalization of $10.38 billion, a PE ratio of 15.78, a PEG ratio of 1.14 and a beta of 1.46.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SNX shares. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Loop Capital reissued a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. Barclays boosted their price objective on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Barrington Research reissued an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.

Insider Transactions at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the completion of the sale, the director now owns 171,080 shares of the company’s stock, valued at $20,652,777.60. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Simon Leung sold 6,249 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now directly owns 23,339 shares in the company, valued at approximately $2,874,664.63. This represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,876 shares of company stock worth $8,196,529. Company insiders own 1.90% of the company’s stock.

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.