Tech Data Corp. (TECD) Issues Quarterly Earnings Results, Beats Expectations By $0.18 EPS
Tech Data Corp. (NASDAQ:TECD) posted its quarterly earnings data on Tuesday. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.26 by $0.18. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.36 billion. Tech Data Corp. had a net margin of 0.83% and a return on equity of 10.39%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.28 EPS. Tech Data Corp. updated its Q4 guidance to $2.11-2.21 EPS.
Shares of Tech Data Corp. (NASDAQ:TECD) opened at 86.40 on Wednesday. The company has a market capitalization of $3.04 billion, a PE ratio of 14.03 and a beta of 0.87. Tech Data Corp. has a one year low of $57.99 and a one year high of $89.36. The stock has a 50 day moving average of $80.28 and a 200-day moving average of $77.18.
Several equities research analysts have commented on TECD shares. Zacks Investment Research cut shares of Tech Data Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 26th. Brean Capital reissued a “buy” rating and set a $105.00 price target (up from $82.00) on shares of Tech Data Corp. in a research report on Thursday, September 22nd. Northcoast Research started coverage on shares of Tech Data Corp. in a research report on Wednesday, August 10th. They set a “neutral” rating on the stock. raised shares of Tech Data Corp. from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $76.00 to $102.00 in a research report on Tuesday, September 20th. Finally, Citigroup Inc. boosted their price target on shares of Tech Data Corp. from $59.00 to $80.00 and gave the stock a “sell” rating in a research report on Thursday, September 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $90.87.
A number of large investors have recently bought and sold shares of TECD. Weaver C. Barksdale & Associates Inc. boosted its stake in Tech Data Corp. by 7.2% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 1,473 shares of the company’s stock worth $106,000 after buying an additional 99 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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. LS Investment Advisors LLC boosted its stake in Tech Data Corp. by 71.9% in the second quarter. LS Investment Advisors LLC now owns 2,102 shares of the company’s stock worth $151,000 after buying an additional 879 shares during the last quarter. Creative Planning boosted its stake in Tech Data Corp. by 4.7% in the third quarter. Creative Planning now owns 1,897 shares of the company’s stock worth $161,000 after buying an additional 86 shares during the last quarter. Finally, Acrospire Investment Management LLC boosted its stake in Tech Data Corp. by 3.9% in the second quarter. Acrospire Investment Management LLC now owns 2,694 shares of the company’s stock worth $194,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 99.42% of the company’s stock.
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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