Q2 2024 Earnings Forecast for TD SYNNEX Co. Issued By Zacks Research (NYSE:SNX)

TD SYNNEX Co. (NYSE:SNX) – Equities research analysts at Zacks Research increased their Q2 2024 EPS estimates for TD SYNNEX in a report released on Tuesday, April 16th. Zacks Research analyst R. Department now expects that the business services provider will post earnings of $2.60 per share for the quarter, up from their prior forecast of $2.57. The consensus estimate for TD SYNNEX’s current full-year earnings is $11.33 per share. Zacks Research also issued estimates for TD SYNNEX’s Q4 2024 earnings at $3.04 EPS, Q2 2025 earnings at $2.97 EPS and Q1 2026 earnings at $3.32 EPS.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. The firm had revenue of $13.98 billion for the quarter, compared to analysts’ expectations of $14.37 billion. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%.

A number of other research analysts have also recently commented on SNX. JPMorgan Chase & Co. upped their price target on shares of TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Barrington Research increased their price target on shares of TD SYNNEX from $122.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Bank of America increased their price target on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $118.00 price target (up from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th. Finally, Barclays increased their price objective on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.82.

TD SYNNEX Trading Down 0.4 %

NYSE SNX opened at $113.34 on Thursday. The company’s 50-day moving average price is $107.55 and its 200-day moving average price is $102.62. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. The stock has a market cap of $10.10 billion, a PE ratio of 16.45, a PEG ratio of 1.08 and a beta of 1.64. TD SYNNEX has a 12 month low of $86.30 and a 12 month high of $119.87.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors have recently added to or reduced their stakes in SNX. American Century Companies Inc. lifted its holdings in TD SYNNEX by 31.5% in the 1st quarter. American Century Companies Inc. now owns 20,197 shares of the business services provider’s stock valued at $2,085,000 after purchasing an additional 4,841 shares in the last quarter. US Bancorp DE lifted its holdings in TD SYNNEX by 11.6% in the 1st quarter. US Bancorp DE now owns 7,213 shares of the business services provider’s stock valued at $745,000 after purchasing an additional 747 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in TD SYNNEX by 7.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,614 shares of the business services provider’s stock valued at $992,000 after purchasing an additional 677 shares in the last quarter. Bank of Montreal Can lifted its holdings in TD SYNNEX by 202.3% in the 1st quarter. Bank of Montreal Can now owns 53,183 shares of the business services provider’s stock valued at $5,569,000 after purchasing an additional 35,593 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in TD SYNNEX in the 1st quarter valued at $1,065,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insiders Place Their Bets

In other news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction on Monday, March 4th. The shares were sold at an average price of $105.57, for a total value of $1,055,700.00. Following the sale, the chief executive officer now owns 229,363 shares of the company’s stock, valued at approximately $24,213,851.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the sale, the insider now directly owns 134,706 shares in the company, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,355 shares of company stock valued at $4,408,685. 1.90% of the stock is owned by insiders.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, April 11th. TD SYNNEX’s dividend payout ratio is presently 23.22%.

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.