Equities analysts expect that Tech Data Corp (NASDAQ:TECD) will announce sales of $8.48 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Tech Data’s earnings, with the lowest sales estimate coming in at $8.48 billion and the highest estimate coming in at $8.49 billion. Tech Data posted sales of $8.55 billion during the same quarter last year, which would indicate a negative year over year growth rate of 0.8%. The business is scheduled to issue its next earnings report on Thursday, May 30th.
According to Zacks, analysts expect that Tech Data will report full-year sales of $38.07 billion for the current fiscal year, with estimates ranging from $37.96 billion to $38.21 billion. For the next financial year, analysts forecast that the firm will post sales of $38.49 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Tech Data.
Tech Data (NASDAQ:TECD) last posted its quarterly earnings results on Thursday, March 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.03 by $0.52. The business had revenue of $10.47 billion for the quarter, compared to analyst estimates of $10.63 billion. Tech Data had a return on equity of 15.17% and a net margin of 0.91%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.50 EPS.
TECD has been the topic of several research reports. BidaskClub raised Tech Data from a “hold” rating to a “buy” rating in a research report on Tuesday, November 20th. ValuEngine raised Tech Data from a “sell” rating to a “hold” rating in a research note on Friday, November 30th. Needham & Company LLC boosted their target price on Tech Data to $110.00 and gave the company a “buy” rating in a research note on Friday, November 30th. TheStreet raised Tech Data from a “c+” rating to a “b-” rating in a research note on Thursday, December 13th. Finally, Zacks Investment Research cut Tech Data from a “buy” rating to a “hold” rating in a research note on Saturday, February 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Tech Data presently has an average rating of “Hold” and a consensus target price of $97.60.
In other news, VP Beth E. Simonetti sold 592 shares of the company’s stock in a transaction dated Friday, January 11th. The stock was sold at an average price of $91.98, for a total transaction of $54,452.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Michael Rabinovitch sold 1,133 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $99.06, for a total value of $112,234.98. The disclosure for this sale can be found here. Insiders have sold 22,725 shares of company stock valued at $2,167,307 over the last ninety days. 1.10% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of TECD. First Trust Advisors LP raised its stake in Tech Data by 14.3% in the 3rd quarter. First Trust Advisors LP now owns 29,529 shares of the company’s stock valued at $2,113,000 after purchasing an additional 3,696 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Tech Data by 12.5% during the 3rd quarter. Arizona State Retirement System now owns 27,230 shares of the company’s stock valued at $1,949,000 after acquiring an additional 3,033 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Tech Data by 21.0% during the 3rd quarter. American Century Companies Inc. now owns 284,270 shares of the company’s stock valued at $20,345,000 after acquiring an additional 49,302 shares during the last quarter. Virginia Retirement Systems ET AL increased its stake in shares of Tech Data by 7.4% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 14,500 shares of the company’s stock valued at $1,038,000 after acquiring an additional 1,000 shares during the last quarter. Finally, LSV Asset Management increased its stake in shares of Tech Data by 5.7% during the 3rd quarter. LSV Asset Management now owns 1,773,117 shares of the company’s stock valued at $126,901,000 after acquiring an additional 95,400 shares during the last quarter. 96.83% of the stock is owned by institutional investors.
Shares of TECD stock traded up $0.15 on Wednesday, hitting $103.76. 334,935 shares of the stock traded hands, compared to its average volume of 421,762. The company has a current ratio of 1.24, a quick ratio of 0.86 and a debt-to-equity ratio of 0.44. The firm has a market cap of $3.87 billion, a P/E ratio of 9.12, a P/E/G ratio of 4.04 and a beta of 0.96. Tech Data has a 1-year low of $66.93 and a 1-year high of $108.29.
About Tech Data
Tech Data Corporation engages in the wholesale distribution of technology products. It offers endpoint portfolio solutions, including PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics; and advanced portfolio solutions, such as storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
Featured Article: How interest rates affect municipal bond prices
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tech Data Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data and related companies with MarketBeat.com's FREE daily email newsletter.