Zacks Research Weighs in on TD SYNNEX Co.’s Q3 2024 Earnings (NYSE:SNX)

TD SYNNEX Co. (NYSE:SNX) – Stock analysts at Zacks Research raised their Q3 2024 EPS estimates for shares of TD SYNNEX in a report issued on Tuesday, April 16th. Zacks Research analyst R. Department now anticipates that the business services provider will post earnings per share of $2.71 for the quarter, up from their previous estimate of $2.65. The consensus estimate for TD SYNNEX’s current full-year earnings is $11.33 per share. Zacks Research also issued estimates for TD SYNNEX’s FY2024 earnings at $11.18 EPS, Q1 2025 earnings at $2.78 EPS, Q3 2025 earnings at $3.14 EPS, Q4 2025 earnings at $3.42 EPS, FY2025 earnings at $12.32 EPS and FY2026 earnings at $14.24 EPS.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.12. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. The firm had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $14.37 billion.

A number of other equities research analysts also recently commented on SNX. Barrington Research lifted their price target on shares of TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Barclays lifted their price target on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. JPMorgan Chase & Co. raised their target price on shares of TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $118.00 target price (up from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average target price of $121.82.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $113.75 on Friday. The company has a market cap of $10.14 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 1.08 and a beta of 1.64. TD SYNNEX has a 12 month low of $86.30 and a 12 month high of $119.87. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75. The company has a 50-day simple moving average of $107.31 and a 200-day simple moving average of $102.52.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SNX. Apollo Management Holdings L.P. acquired a new position in shares of TD SYNNEX during the first quarter worth $3,622,519,000. Pacer Advisors Inc. increased its stake in shares of TD SYNNEX by 33,158.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock worth $143,767,000 after buying an additional 1,331,988 shares during the last quarter. Norges Bank bought a new stake in shares of TD SYNNEX in the fourth quarter worth $79,506,000. AQR Capital Management LLC increased its stake in shares of TD SYNNEX by 330.6% in the first quarter. AQR Capital Management LLC now owns 679,948 shares of the business services provider’s stock worth $64,738,000 after buying an additional 522,055 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of TD SYNNEX by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 5,379,928 shares of the business services provider’s stock worth $578,934,000 after buying an additional 371,322 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Michael Urban sold 5,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $105.00, for a total transaction of $525,000.00. Following the transaction, the insider now directly owns 26,386 shares of the company’s stock, valued at $2,770,530. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Michael Urban sold 5,000 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $105.00, for a total transaction of $525,000.00. Following the transaction, the insider now directly owns 26,386 shares of the company’s stock, valued at $2,770,530. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The disclosure for this sale can be found here. Insiders have sold a total of 39,355 shares of company stock valued at $4,408,685 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.41%. TD SYNNEX’s dividend payout ratio (DPR) is 23.22%.

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.