Tech Data (NASDAQ:TECD) will post its quarterly earnings results before the market opens on Thursday, November 29th. Analysts expect Tech Data to post earnings of $2.18 per share for the quarter. Tech Data has set its Q3 guidance at $2.00-2.30 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.
Tech Data (NASDAQ:TECD) last announced its earnings results on Thursday, August 30th. The company reported $2.01 EPS for the quarter, missing the Zacks’ consensus estimate of $2.11 by ($0.10). Tech Data had a net margin of 0.39% and a return on equity of 12.67%. The business had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $8.73 billion. During the same quarter last year, the firm posted $1.74 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts expect Tech Data to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.
Shares of TECD stock opened at $73.73 on Tuesday. Tech Data has a 12 month low of $66.93 and a 12 month high of $108.62. The firm has a market cap of $2.77 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 0.97 and a beta of 0.67. The company has a current ratio of 1.28, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.
Tech Data announced that its Board of Directors has approved a share buyback plan on Tuesday, October 2nd that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 7.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
A number of analysts have recently commented on the stock. BidaskClub upgraded shares of Tech Data from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Zacks Investment Research restated a “hold” rating and set a $82.00 target price on shares of Tech Data in a report on Friday, November 16th. ValuEngine upgraded shares of Tech Data from a “strong sell” rating to a “sell” rating in a report on Friday, November 16th. TheStreet cut shares of Tech Data from a “b-” rating to a “c+” rating in a report on Monday, October 1st. Finally, Citigroup dropped their target price on shares of Tech Data from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, August 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Tech Data has a consensus rating of “Hold” and an average price target of $98.43.
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Tech Data Company Profile
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.
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