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

TD SYNNEX Co. (NYSE:SNX) – Investment analysts at Zacks Research raised their Q2 2024 earnings per share estimates for shares of TD SYNNEX in a research note issued on Tuesday, April 16th. Zacks Research analyst R. Department now expects that the business services provider will earn $2.60 per share for the quarter, up from their prior estimate 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 brokerages also recently weighed in on SNX. Royal Bank of Canada restated a “sector perform” rating and set a $118.00 price objective (up from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th. Barclays upped their price objective on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 27th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Cfra upped their price objective on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. upped their price objective on TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $121.82.

TD SYNNEX Stock Performance

NYSE:SNX opened at $114.96 on Thursday. The stock has a fifty day moving average price of $107.05 and a 200-day moving average price of $102.44. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.06 and a beta of 1.64. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22. TD SYNNEX has a fifty-two week low of $86.30 and a fifty-two week high of $119.87.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. SummerHaven Investment Management LLC boosted its position in TD SYNNEX by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 7,499 shares of the business services provider’s stock worth $807,000 after purchasing an additional 102 shares during the last quarter. Captrust Financial Advisors boosted its position in TD SYNNEX by 4.3% in the first quarter. Captrust Financial Advisors now owns 3,202 shares of the business services provider’s stock worth $330,000 after purchasing an additional 133 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in TD SYNNEX by 0.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 18,687 shares of the business services provider’s stock worth $1,702,000 after purchasing an additional 140 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in TD SYNNEX by 0.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 35,805 shares of the business services provider’s stock worth $3,391,000 after purchasing an additional 141 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of TD SYNNEX by 0.6% in the fourth quarter. Teacher Retirement System of Texas now owns 23,242 shares of the business services provider’s stock valued at $2,501,000 after buying an additional 142 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insiders Place Their Bets

In other TD SYNNEX news, insider Michael Urban sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 31,386 shares in the company, valued at $3,274,815.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $24,213,851.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Urban sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were 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 owns 31,386 shares in the company, valued at approximately $3,274,815.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,355 shares of company stock worth $4,930,385. Corporate insiders own 1.90% of the company’s stock.

TD SYNNEX Dividend Announcement

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

TD SYNNEX Company Profile

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.