TD SYNNEX (NYSE:SNX) Issues Q1 Earnings Guidance

TD SYNNEX (NYSE:SNX) issued an update on its first quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $2.65-3.15 for the period, compared to the consensus earnings per share estimate of $2.95. The company issued revenue guidance of $14.4-15.2 billion, compared to the consensus revenue estimate of $14.78 billion.

Analyst Ratings Changes

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

TD SYNNEX Price Performance

SNX 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. The company’s 50 day simple moving average is $119.77 and its 200-day simple moving average is $117.85. TD SYNNEX has a one year low of $98.70 and a one year high of $133.85. The stock has a market capitalization of $10.38 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Friday, January 10th. The business services provider reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $3.05 by $0.04. 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 for the quarter, compared to analyst estimates of $15.22 billion. During the same period last year, the company earned $3.13 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. Sell-side analysts anticipate that TD SYNNEX will post 11.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the transaction, the director now owns 171,080 shares in the company, valued at $20,652,777.60. The trade was a 10.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the transaction, the chief financial officer now owns 48,362 shares of the company’s stock, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 67,876 shares of company stock valued at $8,196,529. 1.90% of the stock is currently owned by 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.