Equities research analysts expect Tech Data Corp (NASDAQ:TECD) to report $8.87 billion in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Tech Data’s earnings. The lowest sales estimate is $8.83 billion and the highest is $8.95 billion. Tech Data posted sales of $9.14 billion during the same quarter last year, which suggests a negative year over year growth rate of 3%. The firm is expected to report its next earnings results before the market opens on Thursday, November 29th.

On average, analysts expect that Tech Data will report full-year sales of $36.59 billion for the current fiscal year, with estimates ranging from $36.49 billion to $36.72 billion. For the next fiscal year, analysts forecast that the company will report sales of $37.27 billion, with estimates ranging from $36.87 billion to $37.49 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Tech Data.

Tech Data (NASDAQ:TECD) last posted its quarterly earnings data on Thursday, August 30th. The company reported $2.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.11 by ($0.10). The firm had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $8.73 billion. Tech Data had a return on equity of 12.67% and a net margin of 0.39%. Tech Data’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.74 earnings per share.

A number of equities analysts have recently issued reports on TECD shares. BidaskClub upgraded shares of Tech Data from a “sell” rating to a “hold” rating in a research note on Friday, October 5th. Zacks Investment Research cut shares of Tech Data from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Bank of America cut shares of Tech Data from a “buy” rating to an “underperform” rating and set a $80.00 target price for the company. in a research report on Friday, August 31st. Citigroup reduced their target price on shares of Tech Data from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, August 31st. Finally, TheStreet lowered shares of Tech Data from a “b-” rating to a “c+” rating in a research note on Monday, October 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $98.43.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Group AG increased its stake in shares of Tech Data by 173.6% in the first quarter. UBS Group AG now owns 19,067 shares of the company’s stock valued at $1,623,000 after buying an additional 12,099 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Tech Data by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 153,743 shares of the company’s stock worth $13,089,000 after purchasing an additional 3,741 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of Tech Data by 23.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 6,244 shares of the company’s stock worth $513,000 after purchasing an additional 1,200 shares in the last quarter. Bank of Montreal Can bought a new position in Tech Data during the 2nd quarter valued at $2,550,000. Finally, Nisa Investment Advisors LLC bought a new position in Tech Data during the 2nd quarter valued at $2,224,000. 96.80% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ TECD traded up $1.07 during trading hours on Friday, hitting $72.23. 1,565 shares of the stock were exchanged, compared to its average volume of 364,714. The company has a current ratio of 1.28, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The company has a market cap of $2.84 billion, a P/E ratio of 7.96, a P/E/G ratio of 1.00 and a beta of 0.67. Tech Data has a one year low of $66.93 and a one year high of $108.62.

Tech Data announced that its board has authorized a stock buyback program on Tuesday, October 2nd that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 7.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Tech Data Company Profile

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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