TD SYNNEX Corporation (NYSE:SNX) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts give TD SYNNEX a consensus rating of Moderate Buy from 11 analysts (8 buy, 2 hold, 1 strong buy) with an average 1‑year price target of $186.50, while the stock recently traded near $225.81.
• TD SYNNEX reported a quarterly beat—EPS of $4.73 versus a $3.24 estimate and revenue of $17.16B versus $15.59B—driving 18.1% year‑over‑year revenue growth and analysts forecast about 15.69 EPS for the year.
• The company pays a quarterly dividend of $0.48 (annualized $1.92, yield ~0.9%) and experienced insider sales of roughly 82,165 shares (~$13.6M) last quarter, while institutional investors own about 84% of the stock.

TD SYNNEX Corporation (NYSE:SNX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $186.50.

Several analysts have issued reports on SNX shares. UBS Group raised their price objective on shares of TD SYNNEX from $187.00 to $193.00 and gave the stock a "buy" rating in a research note on Friday, January 9th. Barrington Research reissued an "outperform" rating and issued a $182.00 price objective on shares of TD SYNNEX in a research note on Friday, March 27th. Weiss Ratings reissued a "buy (b-)" rating on shares of TD SYNNEX in a research note on Wednesday, January 21st. Morgan Stanley raised their target price on shares of TD SYNNEX from $172.00 to $174.00 and gave the stock an "overweight" rating in a research report on Friday, March 20th. Finally, Royal Bank Of Canada raised their target price on shares of TD SYNNEX from $180.00 to $210.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 1st.

TD SYNNEX Stock Down 0.8%

Shares of NYSE SNX opened at $225.81 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. The company has a market cap of $18.15 billion, a P/E ratio of 18.77, a PEG ratio of 1.15 and a beta of 1.23. TD SYNNEX has a 1 year low of $108.19 and a 1 year high of $229.47. The firm has a 50-day simple moving average of $176.30 and a two-hundred day simple moving average of $161.92.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $1.49. The business had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The firm's quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.80 earnings per share. Research analysts anticipate that TD SYNNEX will post 15.69 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.9%. TD SYNNEX's dividend payout ratio (DPR) is 15.96%.

Insider Buying and Selling at TD SYNNEX

In other news, Director Merline Saintil sold 167 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total transaction of $26,344.25. Following the transaction, the director directly owned 6,995 shares of the company's stock, valued at approximately $1,103,461.25. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Miriam Anne Murphy sold 3,025 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $200.14, for a total transaction of $605,423.50. Following the transaction, the insider directly owned 10,820 shares in the company, valued at approximately $2,165,514.80. This trade represents a 21.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 82,165 shares of company stock valued at $13,559,368. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TD SYNNEX

Institutional investors have recently modified their holdings of the stock. HB Wealth Management LLC increased its holdings in TD SYNNEX by 81.2% during the first quarter. HB Wealth Management LLC now owns 5,440 shares of the business services provider's stock valued at $918,000 after buying an additional 2,438 shares during the period. Turtle Creek Wealth Advisors LLC increased its holdings in TD SYNNEX by 4.1% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 1,847 shares of the business services provider's stock valued at $312,000 after buying an additional 72 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in TD SYNNEX during the first quarter valued at approximately $468,000. Root Financial Partners LLC increased its holdings in TD SYNNEX by 177.4% during the first quarter. Root Financial Partners LLC now owns 821 shares of the business services provider's stock valued at $139,000 after buying an additional 525 shares during the period. Finally, Essex Financial Services Inc. increased its holdings in TD SYNNEX by 2.9% during the first quarter. Essex Financial Services Inc. now owns 1,957 shares of the business services provider's stock valued at $330,000 after buying an additional 56 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Company Profile

TD SYNNEX NYSE: SNX is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company's core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.