$8.18 Billion in Sales Expected for Tech Data (TECD) This Quarter

Brokerages predict that Tech Data (NASDAQ:TECD) will post $8.18 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Tech Data’s earnings. The lowest sales estimate is $8.16 billion and the highest is $8.22 billion. Tech Data posted sales of $7.66 billion during the same quarter last year, which would indicate a positive year over year growth rate of 6.8%. The company is expected to issue its next quarterly earnings report on Thursday, June 7th.

On average, analysts expect that Tech Data will report full-year sales of $35.50 billion for the current financial year, with estimates ranging from $34.74 billion to $36.02 billion. For the next financial year, analysts expect that the business will report sales of $36.00 billion per share, with estimates ranging from $35.41 billion to $36.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Tech Data.

Tech Data (NASDAQ:TECD) last announced its earnings results on Thursday, March 8th. The company reported $3.50 earnings per share for the quarter, missing the consensus estimate of $3.53 by ($0.03). Tech Data had a return on equity of 12.83% and a net margin of 0.32%. The business had revenue of $11.09 billion for the quarter, compared to analyst estimates of $10.57 billion. During the same quarter last year, the company posted $2.45 EPS. Tech Data’s quarterly revenue was up 49.3% on a year-over-year basis.

Several brokerages have recently weighed in on TECD. BidaskClub upgraded shares of Tech Data from a “hold” rating to a “buy” rating in a research note on Saturday, March 3rd. ValuEngine downgraded shares of Tech Data from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Citigroup decreased their target price on shares of Tech Data from $110.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, March 9th. Northcoast Research set a $127.00 target price on shares of Tech Data and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Finally, Bank of America decreased their target price on shares of Tech Data from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, March 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Tech Data has an average rating of “Buy” and a consensus target price of $110.29.

Shares of TECD opened at $82.13 on Tuesday. Tech Data has a fifty-two week low of $76.89 and a fifty-two week high of $111.10. The stock has a market cap of $3,109.61, a PE ratio of 9.02, a price-to-earnings-growth ratio of 1.02 and a beta of 0.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.26 and a quick ratio of 0.88.

A number of large investors have recently made changes to their positions in TECD. C M Bidwell & Associates Ltd. acquired a new stake in Tech Data in the fourth quarter valued at about $204,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Tech Data by 39.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,085 shares of the company’s stock valued at $204,000 after purchasing an additional 595 shares during the period. Creative Planning acquired a new stake in Tech Data in the fourth quarter valued at about $205,000. GSA Capital Partners LLP acquired a new stake in Tech Data in the third quarter valued at about $212,000. Finally, Advisors Preferred LLC acquired a new stake in Tech Data in the fourth quarter valued at about $214,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

About Tech Data

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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