Research Analysts Set Expectations for TD SYNNEX Co.’s Q2 2024 Earnings (NYSE:SNX)

TD SYNNEX Co. (NYSE:SNX) – Zacks Research increased their Q2 2024 earnings per share (EPS) estimates for TD SYNNEX in a note issued to investors on Tuesday, April 16th. Zacks Research analyst R. Department now forecasts that the business services provider will post earnings per share of $2.60 for the quarter, up from their previous 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.

Several other equities analysts also recently commented on the company. Barrington Research increased their price target on TD SYNNEX from $122.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. JPMorgan Chase & Co. increased their price objective on TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $118.00 price objective (up from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th. Finally, Barclays increased their price objective on 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 analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.82.

TD SYNNEX Trading Up 1.7 %

Shares of SNX stock opened at $114.96 on Thursday. TD SYNNEX has a 12 month low of $86.30 and a 12 month high of $119.87. 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 business’s 50 day moving average is $107.05 and its two-hundred day moving average is $102.44. The company has a market cap of $10.24 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.06 and a beta of 1.64.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.60 annualized dividend and a yield of 1.39%. TD SYNNEX’s dividend payout ratio (DPR) is currently 23.22%.

Insider Buying and Selling

In related news, insider Michael Urban sold 5,000 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $104.34, for a total value of $521,700.00. Following the completion of the transaction, the insider now directly owns 31,386 shares of the company’s stock, valued at $3,274,815.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other TD SYNNEX news, insider Michael Urban sold 5,000 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $104.34, for a total transaction of $521,700.00. Following the completion of the transaction, the insider now directly owns 31,386 shares in the company, valued at $3,274,815.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the transaction, the chief executive officer now owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The disclosure for this sale can be found here. Insiders sold a total of 44,355 shares of company stock valued at $4,930,385 over the last ninety days. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SNX. American Century Companies Inc. raised its stake in TD SYNNEX by 31.5% during the first quarter. American Century Companies Inc. now owns 20,197 shares of the business services provider’s stock worth $2,085,000 after acquiring an additional 4,841 shares in the last quarter. US Bancorp DE increased its stake in shares of TD SYNNEX by 11.6% in the first quarter. US Bancorp DE now owns 7,213 shares of the business services provider’s stock valued at $745,000 after buying an additional 747 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of TD SYNNEX by 7.6% in the first quarter. PNC Financial Services Group Inc. now owns 9,614 shares of the business services provider’s stock valued at $992,000 after buying an additional 677 shares in the last quarter. Bank of Montreal Can increased its stake in shares of TD SYNNEX by 202.3% in the first quarter. Bank of Montreal Can now owns 53,183 shares of the business services provider’s stock valued at $5,569,000 after buying an additional 35,593 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of TD SYNNEX in the first quarter valued at $1,065,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.