TD SYNNEX (NYSE:SNX) Issues Q3 2024 Earnings Guidance

TD SYNNEX (NYSE:SNX) issued an update on its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.550-3.050 for the period, compared to the consensus earnings per share estimate of 2.930. The company issued revenue guidance of $13.3 billion-$14.9 billion, compared to the consensus revenue estimate of $14.5 billion. TD SYNNEX also updated its Q3 guidance to $2.55-3.05 EPS.

Analysts Set New Price Targets

Several research analysts have issued reports on SNX shares. JPMorgan Chase & Co. lifted their target price 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. Royal Bank of Canada upped their price objective on TD SYNNEX from $118.00 to $135.00 and gave the company a sector perform rating in a research report on Tuesday, June 11th. Cfra lifted their target price on TD SYNNEX from $110.00 to $113.00 and gave the stock a hold rating in a report on Tuesday, March 26th. Barclays upped their price target on TD SYNNEX from $111.00 to $118.00 and gave the company an equal weight rating in a report on Wednesday, March 27th. Finally, Barrington Research lifted 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. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $123.36.

TD SYNNEX Price Performance

NYSE SNX opened at $120.00 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $10.69 billion, a P/E ratio of 18.77, a PEG ratio of 1.26 and a beta of 1.55. The company has a 50-day moving average price of $124.54 and a 200-day moving average price of $112.34. TD SYNNEX has a 52 week low of $87.68 and a 52 week high of $133.85.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results 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 net margin of 1.12% and a return on equity of 12.16%. The business had revenue of $13.98 billion for the quarter, compared to the consensus estimate of $14.37 billion. Equities research analysts anticipate that TD SYNNEX will post 11.38 earnings per share for the current year.

Insider Buying and Selling

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the sale, the chief executive officer now owns 219,363 shares of the company’s stock, valued at $25,400,041.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the transaction, the chief executive officer now owns 219,363 shares of the company’s stock, valued at $25,400,041.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was 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 of the company’s stock, valued at $15,908,778.60. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

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.