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.

A number of analysts have recently weighed in on TECD shares. Needham & Company LLC dropped their price objective on Tech Data from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 31st. Zacks Investment Research lowered Tech Data from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Bank of America lowered Tech Data from a “buy” rating to an “underperform” rating and set a $80.00 price target for the company. in a research note on Friday, August 31st. BidaskClub lowered Tech Data from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Finally, Pivotal Research reaffirmed a “buy” rating and issued a $105.00 price target on shares of Tech Data in a research note on Sunday, June 3rd. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Tech Data currently has a consensus rating of “Hold” and an average target price of $100.14.

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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Earnings History and Estimates for Tech Data (NASDAQ:TECD)

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