TD SYNNEX Predicts Robust Performance into 2024 and Beyond

Zacks Research has raised its earnings per share (EPS) estimates for TD SYNNEX (SNX) for Q2 2024, forecasting $2.60 per share, up from its previous estimate of $2.57. The consensus estimate for the company's full-year earnings is $11.33 per share. Analysts from Barrington Research, StockNews.com, JPMorgan Chase & Co., Royal Bank of Canada, and Barclays have provided varying ratings and price targets for TD SYNNEX, ranging from "outperform" to "equal weight." The company recently announced a quarterly dividend of $0.40, payable on April 26th to investors of record as of April 12th, representing a 1.39% yield.

TD SYNNEX Anticipates Strong Performance in 2024 and Beyond

Analyst Estimates and Target Price Revisions

Zacks Research has raised its earnings per share (EPS) estimates for TD SYNNEX (SNX) for the second quarter of 2024 to $2.60, up from the previous estimate of $2.57. The consensus estimate for TD SYNNEX's current full-year earnings is $11.33 per share. Zacks Research has 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 have also recently provided their perspectives on TD SYNNEX. Barrington Research has increased its price target from $122.00 to $138.00 and assigned an "outperform" rating to the company. StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating. JPMorgan Chase & Co. raised its price objective from $113.00 to $126.00 and gave the company a "neutral" rating. Royal Bank of Canada reiterated a "sector perform" rating and issued a $118.00 price objective, an increase from $110.00. Barclays increased its price objective from $111.00 to $118.00 and assigned an "equal weight" rating to TD SYNNEX.

Based on data from MarketBeat, TD SYNNEX currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.82.

Strong Performance Drives Dividend Announcement

In addition to the positive analyst outlook, TD SYNNEX has announced a quarterly dividend of $0.40 per share, payable on Friday, April 26th. Investors of record on Friday, April 12th will be eligible for this dividend. The ex-dividend date is Thursday, April 11th. This represents an annualized dividend of $1.60 and a yield of 1.39%. TD SYNNEX's dividend payout ratio (DPR) is currently 23.22%.

Insider Activity and Institutional Holdings

Insider Michael Urban sold 5,000 shares of TD SYNNEX on January 19th, averaging $104.34 per share for a total transaction value of $521,700.00. CEO Richard T. Hume also sold 10,000 shares on March 4th, averaging $105.57 per share for a total transaction value of $1,055,700.00. Insiders have sold a total of 44,355 shares of company stock, valued at $4,930,385, over the last ninety days. Institutional investors and hedge funds own approximately 84.00% of the outstanding shares.

About TD SYNNEX Corporation

TD SYNNEX Corporation is a leading distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers a comprehensive range of products and services, including personal computing devices, mobile phones, printers, data center technologies, and technology software. TD SYNNEX operates a global network of distribution centers and provides value-added solutions to resellers, system integrators, and end customers. Through its capabilities and expertise, the company connects the IT supply chain and enables its partners to deliver innovative technologies to their customers.