TD SYNNEX - SNX Stock Forecast, Price & News

TD SYNNEX Corporation provides business process services in the United States and internationally. The company distributes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, consumer electronics, information technology (IT) systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics, and complementary products. It also provides systems design and integration solutions, build-to-order, and configure-to-order assembly capabilities; logistics services that comprise outsourced fulfillment, virtual distribution, and direct ship to end-users; cloud services; online services; and financing services comprising net terms, third party leasing, floor plan financing, and letters of credit backed financing and arrangements. In addition, the company offers marketing services, such as direct mail, external media advertising, reseller product training, targeted telemarketing campaigns, trade shows, trade groups, database analysis, print on demand services, and web-based marketing. It serves resellers, system integrators, and retailers. The company was formerly known as SYNNEX Corporation and changed its name to TD SYNNEX Corporation in September 2021. TD SYNNEX Corporation was incorporated in 1980 and is headquartered in Fremont, California.

Analysts Set New Price Targets

Several equities analysts have weighed in on SNX shares. Stifel Nicolaus upgraded TD SYNNEX from a "hold" rating to a "buy" rating and set a $125.00 target price on the stock in a report on Thursday, April 14th. Citigroup lowered their target price on shares of TD SYNNEX from $165.00 to $150.00 and set a "buy" rating on the stock in a research note on Wednesday, June 29th. TheStreet lowered TD SYNNEX from a "b-" rating to a "c+" rating in a report on Tuesday, July 5th. Barrington Research dropped their price objective on shares of TD SYNNEX from $128.00 to $106.00 and set an "outperform" rating on the stock in a report on Friday, July 1st. Finally, JPMorgan Chase & Co. initiated coverage on TD SYNNEX in a report on Thursday, July 14th. They set an "overweight" rating and a $119.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $138.75.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock traded down $0.15 on Friday, reaching $101.96. 209,169 shares of the stock were exchanged, compared to its average volume of 256,816. TD SYNNEX has a one year low of $88.21 and a one year high of $130.93. The firm's 50 day moving average is $96.61 and its 200-day moving average is $100.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.69 and a current ratio of 1.26. The firm has a market cap of $9.77 billion, a PE ratio of 17.08, a P/E/G ratio of 0.96 and a beta of 1.58.

TD SYNNEX (NYSE:SNX - Get Rating) last announced its earnings results on Tuesday, June 28th. The business services provider reported $2.66 EPS for the quarter, beating the consensus estimate of $2.52 by $0.14. The company had revenue of $15.27 billion for the quarter, compared to analyst estimates of $15.25 billion. TD SYNNEX had a return on equity of 13.95% and a net margin of 0.96%. The firm's revenue for the quarter was up 160.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.00 EPS. As a group, analysts anticipate that TD SYNNEX will post 11.31 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were issued a $0.30 dividend. The ex-dividend date was Thursday, July 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.18%. TD SYNNEX's dividend payout ratio is currently 20.10%.

Insider Transactions at TD SYNNEX

In related news, insider Dennis Polk sold 1,300 shares of the business's stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $101.81, for a total transaction of $132,353.00. Following the transaction, the insider now owns 151,153 shares in the company, valued at approximately $15,388,886.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other TD SYNNEX news, CFO Marshall Witt sold 909 shares of the business's stock in a transaction on Monday, May 16th. The shares were sold at an average price of $98.75, for a total transaction of $89,763.75. Following the completion of the sale, the chief financial officer now directly owns 45,887 shares in the company, valued at approximately $4,531,341.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dennis Polk sold 1,300 shares of the company's stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $101.81, for a total value of $132,353.00. Following the completion of the sale, the insider now owns 151,153 shares of the company's stock, valued at $15,388,886.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,394 shares of company stock worth $2,646,825. Company insiders own 1.60% of the company's stock.