Tech Data (TECD) Posts Quarterly Earnings Results, Misses Estimates By $0.10 EPS
Tech Data (NASDAQ:TECD) released its earnings results on Thursday. The company reported $2.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.10), Bloomberg Earnings reports. The firm had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.73 billion. Tech Data had a net margin of 0.32% and a return on equity of 12.41%. Tech Data’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.74 earnings per share. Tech Data updated its Q3 guidance to $2.00-2.30 EPS.
NASDAQ:TECD opened at $76.26 on Friday. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 1.12 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.31 and a quick ratio of 0.88. Tech Data has a 52 week low of $73.00 and a 52 week high of $111.10.
Several equities research analysts have recently issued reports on TECD shares. Zacks Investment Research lowered shares of Tech Data from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 1st. BidaskClub lowered shares of Tech Data from a “buy” rating to a “hold” rating in a research note on Saturday, June 30th. Pivotal Research reissued a “buy” rating and issued a $105.00 target price on shares of Tech Data in a research note on Sunday, June 3rd. ValuEngine lowered shares of Tech Data from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 12th. Finally, TheStreet raised shares of Tech Data from a “c” rating to a “b-” rating in a research note on Thursday, May 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $108.25.
Tech Data Corporation engages in the wholesale distribution of technology products. It offers endpoint portfolio solutions, including PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics; and advanced portfolio solutions, such as storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
Recommended Story: Diversification Important in Investing
Receive News & Ratings for Tech Data Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data and related companies with MarketBeat.com's FREE daily email newsletter.