Brokers Issue Forecasts for TD SYNNEX Co.’s FY2024 Earnings (NYSE:SNX)

TD SYNNEX Co. (NYSE:SNX) – Stock analysts at Barrington Research decreased their FY2024 earnings estimates for shares of TD SYNNEX in a research report issued to clients and investors on Wednesday, June 26th. Barrington Research analyst V. Colicchio now anticipates that the business services provider will earn $11.16 per share for the year, down from their previous estimate of $11.36. Barrington Research currently has a “Outperform” rating and a $138.00 price target on the stock. The consensus estimate for TD SYNNEX’s current full-year earnings is $11.25 per share. Barrington Research also issued estimates for TD SYNNEX’s Q4 2024 earnings at $2.97 EPS and FY2025 earnings at $12.05 EPS.

SNX has been the subject of a number of other reports. Bank of America reduced their price target on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $135.00 price target on shares of TD SYNNEX in a report on Wednesday, June 26th. JPMorgan Chase & Co. reduced their price target on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. UBS Group increased their price target on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Barclays raised their price objective on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and an average price target of $126.10.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock opened at $113.99 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. TD SYNNEX has a fifty-two week low of $89.73 and a fifty-two week high of $133.85. The firm has a fifty day moving average price of $124.70 and a two-hundred day moving average price of $112.80. The company has a market cap of $10.16 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.14 and a beta of 1.52.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of TD SYNNEX by 23.4% during the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after buying an additional 1,261,474 shares during the period. Nordea Investment Management AB boosted its stake in TD SYNNEX by 38.5% during the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock worth $172,081,000 after acquiring an additional 421,908 shares during the last quarter. Pacer Advisors Inc. grew its holdings in TD SYNNEX by 33,158.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock valued at $143,767,000 after purchasing an additional 1,331,988 shares during the period. Lyrical Asset Management LP increased its stake in TD SYNNEX by 0.3% in the fourth quarter. Lyrical Asset Management LP now owns 1,277,884 shares of the business services provider’s stock valued at $137,513,000 after purchasing an additional 3,571 shares in the last quarter. Finally, LSV Asset Management raised its holdings in TD SYNNEX by 18.5% in the first quarter. LSV Asset Management now owns 878,474 shares of the business services provider’s stock worth $99,355,000 after purchasing an additional 136,986 shares during the period. Institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of 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 Securities & Exchange Commission, which is available at this hyperlink. In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at $25,400,041.77. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,000 shares of company stock worth $5,833,100. 1.90% of the stock is currently owned by corporate insiders.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, July 12th. TD SYNNEX’s payout ratio is presently 22.41%.

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.