Zacks: Analysts Expect TD SYNNEX Co. (NYSE:SNX) Will Announce Quarterly Sales of $15.34 Billion

Analysts predict that TD SYNNEX Co. (NYSE:SNX – Get Rating) will report sales of $15.34 billion for the current fiscal quarter, Zacks reports. Three analysts have made estimates for TD SYNNEX’s earnings, with the lowest sales estimate coming in at $15.32 billion and the highest estimate coming in at $15.37 billion. TD SYNNEX reported sales of $5.86 billion during the same quarter last year, which indicates a positive year over year growth rate of 161.8%. The firm is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that TD SYNNEX will report full-year sales of $62.77 billion for the current year, with estimates ranging from $62.15 billion to $63.10 billion. For the next year, analysts forecast that the business will post sales of $65.26 billion, with estimates ranging from $64.36 billion to $66.20 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for TD SYNNEX.

TD SYNNEX (NYSE:SNX – Get Rating) last announced its quarterly earnings results on Thursday, March 24th. The business services provider reported $3.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.30. TD SYNNEX had a return on equity of 14.87% and a net margin of 1.04%. The company had revenue of $15.47 billion during the quarter, compared to analysts’ expectations of $15.31 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The business’s quarterly revenue was up 213.2% compared to the same quarter last year.

Several equities analysts recently weighed in on SNX shares. StockNews.com started coverage on TD SYNNEX in a research report on Thursday, March 31st. They set a “hold” rating for the company. Cross Research upgraded TD SYNNEX from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a research note on Wednesday, January 12th. Citigroup upped their price objective on TD SYNNEX from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 12th. Raymond James upped their price objective on TD SYNNEX from $170.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, March 25th. Finally, Loop Capital upped their price objective on TD SYNNEX from $165.00 to $175.00 in a research note on Wednesday, January 12th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $144.00.

NYSE SNX opened at $101.27 on Monday. TD SYNNEX has a twelve month low of $96.09 and a twelve month high of $130.93. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 1.25. The stock has a market capitalization of $9.73 billion, a PE ratio of 16.33, a P/E/G ratio of 0.90 and a beta of 1.61. The stock has a 50-day simple moving average of $104.30 and a 200 day simple moving average of $106.68.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 22nd. Investors of record on Monday, April 18th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, April 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. TD SYNNEX’s dividend payout ratio (DPR) is presently 19.35%.

In other news, CFO Marshall Witt sold 910 shares of the stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $108.17, for a total value of $98,434.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $105.44, for a total value of $1,054,400.00. Following the completion of the transaction, the chief executive officer now directly owns 147,747 shares in the company, valued at approximately $15,578,443.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,011 shares of company stock worth $1,764,609. 1.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd bought a new position in TD SYNNEX during the 3rd quarter worth about $33,000. FourThought Financial LLC increased its holdings in TD SYNNEX by 41.6% during the 3rd quarter. FourThought Financial LLC now owns 320 shares of the business services provider’s stock worth $33,000 after purchasing an additional 94 shares in the last quarter. CWM LLC bought a new position in TD SYNNEX during the 4th quarter worth about $38,000. Prospera Financial Services Inc bought a new position in shares of TD SYNNEX in the 1st quarter valued at about $35,000. Finally, Covestor Ltd bought a new position in shares of TD SYNNEX in the 4th quarter valued at about $42,000. 85.54% of the stock is currently owned by institutional investors and hedge funds.

About TD SYNNEX (Get Rating)

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.

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