TD SYNNEX (NYSE:SNX) Posts Earnings Results, Beats Expectations By $0.07 EPS

TD SYNNEX (NYSE:SNX – Get Rating) posted its quarterly earnings results on Tuesday. The business services provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.65 by $0.07, Briefing.com reports. TD SYNNEX had a net margin of 1.04% and a return on equity of 14.87%. The company had revenue of $15.27 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period in the prior year, the company earned $2.00 earnings per share. The firm’s revenue was up 160.7% on a year-over-year basis.

TD SYNNEX stock opened at $90.49 on Thursday. The firm has a 50 day simple moving average of $98.92 and a 200-day simple moving average of $103.76. TD SYNNEX has a 1-year low of $89.07 and a 1-year high of $130.93. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 0.73. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 0.83 and a beta of 1.60.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.33%. TD SYNNEX’s dividend payout ratio (DPR) is 19.35%.

A number of brokerages have weighed in on SNX. Citigroup decreased their price objective on shares of TD SYNNEX from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday. StockNews.com began coverage on shares of TD SYNNEX in a report on Thursday, March 31st. They issued a “hold” rating for the company. Stifel Nicolaus upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Thursday, April 14th. Finally, Raymond James increased their price objective on shares of TD SYNNEX from $170.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, March 25th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, TD SYNNEX presently has an average rating of “Buy” and an average price target of $144.71.

In related news, insider Dennis Polk sold 1,199 shares of the stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $101.93, for a total transaction of $122,214.07. Following the completion of the transaction, the insider now owns 152,352 shares of the company’s stock, valued at approximately $15,529,239.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $105.44, for a total transaction of $1,054,400.00. Following the completion of the transaction, the chief executive officer now directly owns 147,747 shares of the company’s stock, valued at approximately $15,578,443.68. The disclosure for this sale can be found here. Insiders have sold a total of 27,511 shares of company stock valued at $2,854,166 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. acquired a new stake in shares of TD SYNNEX in the 1st quarter valued at $51,000. Covestor Ltd raised its holdings in shares of TD SYNNEX by 91.5% in the 1st quarter. Covestor Ltd now owns 697 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 333 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in shares of TD SYNNEX in the 1st quarter valued at $227,000. Captrust Financial Advisors raised its holdings in shares of TD SYNNEX by 4.3% in the 1st quarter. Captrust Financial Advisors now owns 3,202 shares of the business services provider’s stock valued at $330,000 after purchasing an additional 133 shares in the last quarter. Finally, Eqis Capital Management Inc. raised its holdings in shares of TD SYNNEX by 7.2% in the 1st quarter. Eqis Capital Management Inc. now owns 3,723 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 249 shares in the last quarter. 85.54% of the stock is owned by institutional investors.

TD SYNNEX Company Profile (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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