Tech Data Corp. (TECD) Scheduled to Post Quarterly Earnings on Tuesday
Tech Data Corp. (NASDAQ:TECD) will announce its earnings results on Tuesday, November 22nd. Tech Data Corp. has set its Q3 guidance at $1.20-1.30 EPS.Investors interested in participating in the company’s conference call can do so using this link.
Tech Data Corp. (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, August 25th. The company reported $1.42 EPS for the quarter, missing the Zacks’ consensus estimate of $1.43 by $0.01. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.63 billion. Tech Data Corp. had a net margin of 0.83% and a return on equity of 10.39%. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 earnings per share. On average, analysts expect Tech Data Corp. to post $5.98 EPS for the current fiscal year and $6.23 EPS for the next fiscal year.
Shares of Tech Data Corp. (NASDAQ:TECD) opened at 83.32 on Monday. Tech Data Corp. has a 52 week low of $57.99 and a 52 week high of $88.70. The stock has a market capitalization of $2.93 billion, a PE ratio of 13.53 and a beta of 0.87. The company’s 50 day moving average is $80.14 and its 200-day moving average is $76.64.
A number of analysts have weighed in on TECD shares. Bank of America Corp. upgraded shares of Tech Data Corp. from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $67.00 to $80.00 in a research note on Tuesday, August 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Tech Data Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 26th. Needham & Company LLC restated a “hold” rating on shares of Tech Data Corp. in a research note on Friday, August 26th. Stifel Nicolaus upgraded shares of Tech Data Corp. from a “hold” rating to a “buy” rating and raised their price objective for the company from $75.00 to $96.00 in a research note on Tuesday, September 20th. Finally, Citigroup Inc. raised their price objective on shares of Tech Data Corp. from $59.00 to $80.00 and gave the company a “sell” rating in a research note on Thursday, September 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Tech Data Corp. currently has a consensus rating of “Hold” and an average target price of $90.87.
Several institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Tech Data Corp. by 12.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,295 shares of the company’s stock worth $110,000 after buying an additional 144 shares during the last quarter. Jane Street Group LLC acquired a new position in Tech Data Corp. during the second quarter worth about $208,000. Kempen Capital Management N.V. acquired a new position in Tech Data Corp. during the second quarter worth about $243,000. United Services Automobile Association increased its position in Tech Data Corp. by 3.3% in the second quarter. United Services Automobile Association now owns 4,050 shares of the company’s stock worth $291,000 after buying an additional 130 shares during the last quarter. Finally, Jefferies Group LLC acquired a new position in Tech Data Corp. during the second quarter worth about $386,000.
About Tech Data Corp.
Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services.
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