TD SYNNEX Corporation (NYSE:SNX) shares traded -1.24% lower at $90.15 on Wall Street last session.
In accordance with the data, 12 analysts cover TD SYNNEX Corporation (NYSE:SNX). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $150.00 and a low of $109.00, we find $126.00. Given the previous closing price of $91.28, this indicates a potential upside of 38.04 percent. SNX stock price is now -10.91% away from the 50-day moving average and -6.79% away from the 200-day moving average. The market capitalization of the company currently stands at $8.82B.
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It has been rated a hold by 3 analysts and a buy by 8. Brokers who have rated the stock have averaged $127.64 as their price target over the next twelve months.
With the price target of $109, Barclays recently initiated with Equal Weight rating for TD SYNNEX Corporation (NYSE: SNX). On October 04, 2022, RBC Capital Mkts recently initiated its ‘Sector Perform’ rating on the stock quoting a target price of $95, while ‘Credit Suisse’ rates the stock as ‘Neutral’.
In other news, POLK DENNIS, Executive Chair sold 8,000 shares of the company’s stock on Mar 01. The stock was sold for $777,059 at an average price of $97.13. Upon completion of the transaction, the Executive Chair now directly owns 132,402 shares in the company, valued at $11.94 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 15, Chief Financial Officer Witt Marshall sold 1,082 shares of the business’s stock. A total of $110,039 was realized by selling the stock at an average price of $101.70. This leaves the insider owning 53,907 shares of the company worth $4.86 million. Insiders disposed of 15,726,550 shares of company stock worth roughly $1.42 billion over the past 1 year. A total of 0.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SNX stock. A new stake in TD SYNNEX Corporation shares was purchased by TWINBEECH CAPITAL LP during the first quarter worth $3,645,000. AMALGAMATED FINANCIAL CORP. invested $2,587,000 in shares of SNX during the first quarter. In the first quarter, VONTOBEL HOLDING LTD. acquired a new stake in TD SYNNEX Corporation valued at approximately $1,362,000. PARCION PRIVATE WEALTH LLC acquired a new stake in SNX for approximately $1,250,000. BANK OF NOVA SCOTIA purchased a new stake in SNX valued at around $1,024,000 in the second quarter. In total, there are 427 active investors with 86.40% ownership of the company’s stock.
TD SYNNEX Corporation (NYSE: SNX) opened at $90.16 on Monday. During the past 12 months, TD SYNNEX Corporation has had a low of $78.86 and a high of $115.14. As of last week, the company has a debt-to-equity ratio of 0.51, a current ratio of 1.20, and a quick ratio of 0.70. The fifty day moving average price for SNX is $101.19 and a two-hundred day moving average price translates $96.72 for the stock.
The latest earnings results from TD SYNNEX Corporation (NYSE: SNX) was released for Nov, 2022. According to the Electronics & Computer Distribution Company, earnings per share came in at $3.44, beating analysts’ expectations of $2.91 by 0.53. This compares to $0.91 EPS in the same period last year. The net profit margin was 1.00% and return on equity was 8.10% for SNX. The company reported revenue of $16.25 billion for the quarter, compared to $15.61 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.08 percent. For the current quarter, analysts expect SNX to generate $15.77B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/27/2023. Investors who held shares on 01/20/2023 were paid a $0.35 dividend. On an annualized basis, this represents a $1.40 dividend and a 1.55% percent yield. There was an ex-dividend date of 01/19/2023 for this dividend. In terms of dividend payout ratio, SNX is presently at 17.70%.
TD SYNNEX Corporation(SNX) 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. It also provides systems design and rack integration, build-to-order, and configure-to-order assembly; and thermal testing, power-draw testing, burn-in, and quality and logistics support. In addition, the company offers outsourced fulfilment, virtual distribution, and direct ship to end-users; shipping documents generation, multi-level serial number tracking, and configured products and online order and shipment tracking, as well as turn-key logistics solutions. Further, it provides public cloud solutions in productivity and collaboration, IaaS, or Infrastructure as a Service, PaaS, or Platform as a Service, SaaS, or Software as a Service, security, mobility, IoT, and other hybrid solutions. Additionally, the company offers online services; provides net terms, third party leasing, floor plan financing, and letters-of-credit backed financing and arrangement; and leases products and provides device-as-a-service, as well as offers direct mail, external media advertising, reseller product training, targeted telemarketing campaigns, national and regional trade shows, trade groups, database analysis, print on demand services, and web-based marketing. It serves value-added resellers, corporate resellers, government resellers, system integrators, direct marketers, retailers, and managed service providers. The company was formerly known as SYNNEX Corporation and changed its name to TD SYNNEX Corporation in September 2021. TD SYNNEX Corporation was incorporated in 1980 and is headquartered in Fremont, California.
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