TD SYNNEX Corporation (NYSE:SNX) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• TD SYNNEX received a consensus analyst rating of “Moderate Buy” from 11 research firms, with an average 12-month price target of $197.70. Recent analyst updates included higher targets from UBS and RBC, while JPMorgan maintained a neutral view.
• The company posted strong quarterly results, reporting EPS of $4.73 versus the $3.24 estimate and revenue of $17.16 billion versus the $15.59 billion consensus. Revenue rose 18.1% year over year, and analysts expect full-year EPS of 15.69.
• TD SYNNEX also paid a quarterly dividend of $0.48, equal to an annualized yield of about 0.8%. Insider selling occurred during the period, though institutional investors continue to hold the majority of shares at 84%.

Shares of TD SYNNEX Corporation (NYSE:SNX - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eleven research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $197.70.

A number of equities analysts have recently weighed in on the company. UBS Group upped their target price on TD SYNNEX from $193.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Barrington Research reiterated an "outperform" rating and issued a $182.00 target price on shares of TD SYNNEX in a report on Friday, March 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of TD SYNNEX in a report on Monday, May 4th. Royal Bank Of Canada upped their target price on TD SYNNEX from $210.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. upped their target price on TD SYNNEX from $185.00 to $220.00 and gave the company a "neutral" rating in a report on Thursday, April 16th.

TD SYNNEX Price Performance

NYSE SNX opened at $237.30 on Friday. The stock's 50-day moving average price is $201.21 and its two-hundred day moving average price is $171.01. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. The company has a market cap of $19.08 billion, a PE ratio of 19.73, a PEG ratio of 1.01 and a beta of 1.40. TD SYNNEX has a 1 year low of $118.35 and a 1 year high of $242.49.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted 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 firm had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $15.59 billion. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The business's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.80 EPS. On average, analysts predict that TD SYNNEX will post 15.69 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were issued a $0.48 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. TD SYNNEX's dividend payout ratio is currently 15.96%.

Insiders Place Their Bets

In other news, Director Merline Saintil sold 167 shares of the company's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $157.75, for a total value of $26,344.25. Following the transaction, the director owned 6,995 shares in the company, valued at $1,103,461.25. This represents a 2.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard T. Hume sold 5,000 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $229.54, for a total value of $1,147,700.00. Following the completion of the sale, the director directly owned 28,537 shares of the company's stock, valued at approximately $6,550,382.98. The trade was a 14.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,417 shares of company stock worth $3,559,726 over the last quarter. Company insiders own 0.70% of the company's stock.

Institutional Investors Weigh In On TD SYNNEX

Several large investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL grew its stake in shares of TD SYNNEX by 1.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 4,667 shares of the business services provider's stock valued at $787,000 after buying an additional 52 shares in the last quarter. Essex Financial Services Inc. grew its stake in shares of TD SYNNEX by 2.9% in the 1st 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 in the last quarter. Kesler Norman & Wride LLC grew its stake in shares of TD SYNNEX by 0.7% in the 1st quarter. Kesler Norman & Wride LLC now owns 8,581 shares of the business services provider's stock valued at $1,448,000 after buying an additional 61 shares in the last quarter. SJS Investment Consulting Inc. grew its stake in shares of TD SYNNEX by 44.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider's stock valued at $34,000 after buying an additional 62 shares in the last quarter. Finally, Cornerstone Wealth Management LLC grew its stake in shares of TD SYNNEX by 3.8% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 1,895 shares of the business services provider's stock valued at $310,000 after buying an additional 69 shares in the last quarter. Institutional investors own 84.00% of the company's stock.

About TD SYNNEX

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.

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