Tech Data Corp (TECD) Expected to Announce Earnings of $2.18 Per Share
Wall Street brokerages expect Tech Data Corp (NASDAQ:TECD) to report earnings of $2.18 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Tech Data’s earnings, with the lowest EPS estimate coming in at $2.16 and the highest estimate coming in at $2.20. Tech Data posted earnings of $2.00 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 9%. The firm is scheduled to announce its next quarterly earnings results on Monday, November 26th.
On average, analysts expect that Tech Data will report full-year earnings of $9.96 per share for the current financial year, with EPS estimates ranging from $9.69 to $10.27. For the next financial year, analysts forecast that the company will report earnings of $10.77 per share, with EPS estimates ranging from $10.53 to $11.03. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Tech Data.
Tech Data (NASDAQ:TECD) last released its quarterly earnings data on Thursday, August 30th. The company reported $2.01 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.10). The company had revenue of $8.89 billion for the quarter, compared to analysts’ expectations of $8.73 billion. Tech Data had a net margin of 0.39% and a return on equity of 12.67%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $1.74 EPS.
Shares of NASDAQ:TECD traded down $0.45 during trading on Tuesday, reaching $72.38. 7,030 shares of the company traded hands, compared to its average volume of 461,436. The firm has a market cap of $2.86 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 1.00 and a beta of 0.74. Tech Data has a 52-week low of $70.70 and a 52-week high of $108.62. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.28.
A number of hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc lifted its stake in Tech Data by 0.7% in the second quarter. Legal & General Group Plc now owns 86,760 shares of the company’s stock worth $7,125,000 after acquiring an additional 616 shares during the period. Suntrust Banks Inc. lifted its position in Tech Data by 24.5% during the first quarter. Suntrust Banks Inc. now owns 3,475 shares of the company’s stock valued at $294,000 after buying an additional 684 shares during the period. Commonwealth Bank of Australia lifted its position in Tech Data by 4.1% during the second quarter. Commonwealth Bank of Australia now owns 17,726 shares of the company’s stock valued at $1,395,000 after buying an additional 700 shares during the period. Arizona State Retirement System lifted its position in Tech Data by 3.0% during the second quarter. Arizona State Retirement System now owns 24,197 shares of the company’s stock valued at $1,987,000 after buying an additional 709 shares during the period. Finally, Mutual of America Capital Management LLC lifted its position in Tech Data by 2.8% during the second quarter. Mutual of America Capital Management LLC now owns 30,624 shares of the company’s stock valued at $2,515,000 after buying an additional 833 shares during the period. 96.81% of the stock is owned by institutional investors.
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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