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

TD SYNNEX Co. (NYSE:SNX) – Stock analysts at Zacks Research lifted their Q2 2024 earnings per share estimates for shares of TD SYNNEX in a research note issued on Tuesday, April 16th. Zacks Research analyst R. Department now forecasts that the business services provider will post earnings of $2.60 per share for the quarter, up from their previous estimate 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 data on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.12. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. The firm had revenue of $13.98 billion during the quarter, compared to analyst estimates of $14.37 billion.

A number of other analysts have also commented on the company. Barrington Research boosted their price objective on TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. UBS Group raised TD SYNNEX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $115.00 to $145.00 in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Barclays boosted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. Finally, Bank of America boosted their price objective on TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.82.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $113.34 on Thursday. TD SYNNEX has a one year low of $86.30 and a one year high of $119.87. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 1.08 and a beta of 1.64. The business has a 50-day simple moving average of $107.55 and a 200 day simple moving average of $102.62. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75.

TD SYNNEX Announces Dividend

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

Insider Activity

In other news, insider Dennis Polk sold 20,000 shares of the firm’s 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 sale, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Michael Urban sold 4,355 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $107.00, for a total transaction of $465,985.00. Following the transaction, the insider now owns 20,270 shares of the company’s stock, valued at approximately $2,168,890. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the 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 transaction, 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 quarter, insiders have sold 39,355 shares of company stock worth $4,408,685. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of large investors have recently added to or reduced their stakes in SNX. Apollo Management Holdings L.P. bought a new stake in TD SYNNEX in the 1st quarter worth $3,622,519,000. Pacer Advisors Inc. lifted its position in shares of TD SYNNEX by 33,158.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock worth $143,767,000 after purchasing an additional 1,331,988 shares during the period. Norges Bank purchased a new stake in shares of TD SYNNEX in the 4th quarter worth about $79,506,000. AQR Capital Management LLC lifted its position in shares of TD SYNNEX by 330.6% in the 1st quarter. AQR Capital Management LLC now owns 679,948 shares of the business services provider’s stock worth $64,738,000 after purchasing an additional 522,055 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of TD SYNNEX by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 5,379,928 shares of the business services provider’s stock worth $578,934,000 after purchasing an additional 371,322 shares during the period. Institutional investors own 84.00% of the company’s stock.

About TD SYNNEX

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.