TD SYNNEX Co. (NYSE:SNX – Get Rating) – Investment analysts at Zacks Research reduced their Q1 2024 earnings estimates for TD SYNNEX in a research report issued to clients and investors on Tuesday, June 20th. Zacks Research analyst A. Bhagat now expects that the business services provider will post earnings per share of $2.66 for the quarter, down from their prior estimate of $2.71. The consensus estimate for TD SYNNEX’s current full-year earnings is $10.89 per share. Zacks Research also issued estimates for TD SYNNEX’s Q2 2024 earnings at $2.76 EPS.
SNX has been the topic of a number of other research reports. Barrington Research decreased their target price on shares of TD SYNNEX from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 3rd. Cfra restated a “hold” rating and set a $100.00 target price (down previously from $120.00) on shares of TD SYNNEX in a research note on Tuesday, March 28th. Barclays cut their price target on TD SYNNEX from $109.00 to $103.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 29th. Raymond James lowered their price objective on TD SYNNEX from $140.00 to $130.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, March 29th. Finally, The Goldman Sachs Group started coverage on TD SYNNEX in a research note on Monday, May 1st. They set a “buy” rating and a $101.00 target price on the stock. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.91.
TD SYNNEX Stock Performance
TD SYNNEX (NYSE:SNX – Get Rating) last released its quarterly earnings results on Tuesday, March 28th. The business services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.08. The business had revenue of $15.13 billion for the quarter, compared to the consensus estimate of $15.74 billion. TD SYNNEX had a net margin of 1.11% and a return on equity of 13.80%.
Institutional Trading of TD SYNNEX
Institutional investors have recently added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new position in TD SYNNEX during the 4th quarter valued at $33,000. Dark Forest Capital Management LP purchased a new stake in shares of TD SYNNEX during the fourth quarter valued at $38,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of TD SYNNEX by 95.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 410 shares of the business services provider’s stock worth $40,000 after purchasing an additional 200 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in TD SYNNEX by 99.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 436 shares of the business services provider’s stock worth $42,000 after buying an additional 217 shares during the period. Finally, Ronald Blue Trust Inc. boosted its position in TD SYNNEX by 48.5% in the 4th quarter. Ronald Blue Trust Inc. now owns 438 shares of the business services provider’s stock valued at $35,000 after buying an additional 143 shares during the period. Institutional investors own 84.54% of the company’s stock.
Insider Transactions at TD SYNNEX
In related news, CFO Marshall Witt sold 603 shares of TD SYNNEX stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $95.06, for a total value of $57,321.18. Following the completion of the transaction, the chief financial officer now owns 51,495 shares in the company, valued at $4,895,114.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Marshall Witt sold 603 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $95.06, for a total transaction of $57,321.18. Following the sale, the chief financial officer now owns 51,495 shares in the company, valued at approximately $4,895,114.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard T. Hume sold 15,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $91.83, for a total value of $1,377,450.00. Following the completion of the sale, the chief executive officer now owns 193,150 shares of the company’s stock, valued at $17,736,964.50. The disclosure for this sale can be found here. Insiders have sold a total of 43,998 shares of company stock worth $4,041,355 in the last three months. Insiders own 1.70% of the company’s stock.
TD SYNNEX Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, April 14th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, April 13th. This represents a $1.40 annualized dividend and a yield of 1.46%. TD SYNNEX’s dividend payout ratio (DPR) is currently 19.55%.
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.
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