Tech Data Corporation (TECD) Expected to Post Earnings of $1.92 Per Share
Brokerages expect Tech Data Corporation (NASDAQ:TECD) to post earnings per share of $1.92 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Tech Data Corporation’s earnings, with estimates ranging from $1.87 to $1.95. Tech Data Corporation reported earnings of $1.44 per share during the same quarter last year, which indicates a positive year over year growth rate of 33.3%. The company is scheduled to issue its next earnings results after the market closes on Monday, November 27th.
On average, analysts expect that Tech Data Corporation will report full year earnings of $9.08 per share for the current financial year, with EPS estimates ranging from $9.01 to $9.20. For the next year, analysts forecast that the business will post earnings of $10.49 per share, with EPS estimates ranging from $10.20 to $10.67. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Tech Data Corporation.
Tech Data Corporation (NASDAQ:TECD) last released its quarterly earnings results on Thursday, August 31st. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.32). The company had revenue of $8.88 billion for the quarter, compared to analyst estimates of $8.74 billion. Tech Data Corporation had a return on equity of 11.60% and a net margin of 0.63%. The business’s revenue was up 39.8% on a year-over-year basis. During the same period last year, the firm posted $1.42 earnings per share.
Several equities analysts recently commented on TECD shares. Loop Capital reissued a “buy” rating and set a $120.00 price target (down from $130.00) on shares of Tech Data Corporation in a research report on Friday, September 1st. Stifel Nicolaus reduced their price target on Tech Data Corporation from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, September 1st. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target (down from $107.00) on shares of Tech Data Corporation in a research report on Monday, September 18th. Northcoast Research raised Tech Data Corporation from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 5th. Finally, ValuEngine raised Tech Data Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $109.33.
Tech Data Corporation (NASDAQ:TECD) traded down $0.20 during trading on Friday, reaching $90.46. The company had a trading volume of 366,400 shares, compared to its average volume of 436,504. The firm has a market cap of $3,450.00, a price-to-earnings ratio of 12.09, a PEG ratio of 0.47 and a beta of 0.77. The company has a quick ratio of 0.94, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. Tech Data Corporation has a 12-month low of $78.44 and a 12-month high of $111.10.
Several institutional investors and hedge funds have recently made changes to their positions in TECD. BlackRock Inc. raised its position in shares of Tech Data Corporation by 24.1% in the 2nd quarter. BlackRock Inc. now owns 4,780,405 shares of the company’s stock valued at $482,820,000 after purchasing an additional 927,770 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Tech Data Corporation in the 2nd quarter valued at approximately $35,974,000. Numeric Investors LLC increased its holdings in shares of Tech Data Corporation by 1,589.9% in the 2nd quarter. Numeric Investors LLC now owns 326,156 shares of the company’s stock valued at $32,942,000 after acquiring an additional 306,856 shares during the last quarter. Peregrine Capital Management LLC bought a new stake in shares of Tech Data Corporation in the 2nd quarter valued at approximately $26,404,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Tech Data Corporation by 37.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock valued at $79,316,000 after acquiring an additional 214,058 shares during the last quarter.
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About Tech Data Corporation
Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services.
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