TD SYNNEX Corporation Plans Quarterly Dividend of $0.44 (NYSE:SNX)

Key Points

• TD SYNNEX Corporation has declared a quarterly dividend of $0.44 per share, payable on October 31st to shareholders of record by October 17th, representing an annualized yield of 1.2%.
• The company's dividend payout ratio is 13.2%, indicating that its dividend is well-supported by earnings, with expected earnings of $13.62 per share for the next year.
• TD SYNNEX's stock has recently experienced a trading decline of 1.1%, and analysts have set price targets ranging from $156.00 to $173.00, with a consensus rating of "Moderate Buy."

TD SYNNEX Corporation (NYSE:SNX - Get Free Report) declared a quarterly dividend on Thursday, September 25th, RTT News reports. Shareholders of record on Friday, October 17th will be given a dividend of 0.44 per share by the business services provider on Friday, October 31st. This represents a c) annualized dividend and a yield of 1.2%.

TD SYNNEX has a dividend payout ratio of 13.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TD SYNNEX to earn $13.62 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 12.9%.

TD SYNNEX Trading Down 1.1%

SNX stock traded down $1.73 during midday trading on Thursday, hitting $148.62. The stock had a trading volume of 329,550 shares, compared to its average volume of 783,771. The company's 50-day moving average price is $147.63 and its 200 day moving average price is $130.24. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75. The firm has a market cap of $12.26 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 1.24 and a beta of 1.35. TD SYNNEX has a 12-month low of $92.23 and a 12-month high of $154.44.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%.The business had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same period last year, the company posted $2.73 EPS. The business's quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts predict that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNX has been the subject of several recent analyst reports. Bank of America raised their target price on TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Barrington Research restated an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research note on Tuesday. Loop Capital upped their target price on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, June 30th. JPMorgan Chase & Co. raised their price target on shares of TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley upped their price target on shares of TD SYNNEX from $155.00 to $173.00 and gave the company an "overweight" rating in a report on Thursday, September 18th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $153.10.

TD SYNNEX Company Profile

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.

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