TD SYNNEX Co. (NYSE:SNX) to Post Q2 2024 Earnings of $2.60 Per Share, Zacks Research Forecasts

TD SYNNEX Co. (NYSE:SNX - Free Report) - Stock analysts at Zacks Research boosted their Q2 2024 earnings per share (EPS) estimates for shares of TD SYNNEX in a note issued to investors on Tuesday, April 16th. Zacks Research analyst R. Department now anticipates that the business services provider will post earnings per share of $2.60 for the quarter, up from their prior estimate of $2.57. 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 Q4 2024 earnings at $3.04 EPS, Q2 2025 earnings at $2.97 EPS and Q1 2026 earnings at $3.32 EPS.

Other equities analysts have also recently issued research reports about the stock. Barclays increased their price objective on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 27th. Royal Bank of Canada reissued a "sector perform" rating and set a $118.00 price objective (up previously from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th. JPMorgan Chase & Co. increased their price objective 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. Bank of America raised their price target on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Tuesday, April 2nd. Finally, UBS Group raised shares of TD SYNNEX from a "neutral" rating to a "buy" rating and raised their price target for the company from $115.00 to $145.00 in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, TD SYNNEX has an average rating of "Moderate Buy" and an average target price of $121.82.

TD SYNNEX Stock Down 1.0 %

Shares of SNX stock traded down $1.19 on Thursday, reaching $113.75. 798,672 shares of the company were exchanged, compared to its average volume of 979,585. The company has a market cap of $10.14 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.06 and a beta of 1.64. The company has a 50-day moving average of $107.31 and a 200-day moving average of $102.52. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75. TD SYNNEX has a one year low of $86.30 and a one year high of $119.87.

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

TD SYNNEX Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.41%. TD SYNNEX's dividend payout ratio is currently 23.22%.

Insiders Place Their Bets

In other news, insider Dennis Polk sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Michael Urban sold 5,000 shares of TD SYNNEX stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $104.34, for a total value of $521,700.00. Following the completion of the transaction, the insider now directly owns 31,386 shares in the company, valued at approximately $3,274,815.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dennis Polk sold 20,000 shares of the business's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the transaction, the insider now owns 134,706 shares of the company's stock, valued at $15,908,778.60. The disclosure for this sale can be found here. Insiders have sold a total of 44,355 shares of company stock valued at $4,930,385 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Apollo Management Holdings L.P. bought a new stake in shares of TD SYNNEX during the 1st quarter worth $3,622,519,000. Pacer Advisors Inc. increased its position 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 valued at $143,767,000 after acquiring an additional 1,331,988 shares during the period. Norges Bank purchased a new position in shares of TD SYNNEX in the fourth quarter valued at about $79,506,000. AQR Capital Management LLC increased its position 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 valued at $64,738,000 after acquiring an additional 522,055 shares during the period. Finally, Vanguard Group Inc. increased its position 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 valued at $578,934,000 after acquiring an additional 371,322 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

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.