TD SYNNEX Prepares for Q3 Earnings: Analyst Insights and Predictions
TD SYNNEX Gears Up for Q3 Earnings Release
TD SYNNEX Corporation (SNX) is on the verge of revealing its earnings results for the third quarter, creating anticipation among investors and analysts alike.
Analyst Expectations for Earnings Report
Forecasts indicate that the company based in Fremont, California, is set to announce quarterly earnings of approximately $2.80 per share. This shows a slight increase from the $2.78 per share reported in the same quarter last year. Additionally, TD SYNNEX is projected to generate revenue of around $14.11 billion for this quarter.
Recent Developments Impacting Performance
On September 12, TD SYNNEX made headlines by announcing its acquisition of the IPsense Cloud Migration business in Brazil. This strategic move aims to establish a cloud competence center, potentially enhancing support for its network of resellers. Such initiatives reflect the company’s commitment to expanding its market presence and capabilities.
Stock Performance Insights
Despite the recent announcement, TD SYNNEX shares experienced a decline of 1.3%, closing at $117.29. This fluctuation in stock price underscores the dynamic nature of the market as investors react to both internal developments and broader economic conditions.
Analysts Ratings Overview
Investor sentiment often hinges on expert opinions. Let's delve into how some top analysts have rated TD SYNNEX in recent months:
- Barrington Research analyst Vincent Colicchio maintained an Outperform rating with a price target set at $138 as of September 23. Colicchio boasts an accuracy rate of 63% in his analyses.
- RBC Capital analyst Ashish Sabadra upgraded the stock from Sector Perform to Outperform, raising the price target from $135 to $140 back on July 15. His accuracy rate stands at an impressive 74%.
- UBS analyst David Vogt reaffirmed a Buy rating and increased the price target from $145 to $150 on June 26, also with a 74% accuracy rate.
- JP Morgan’s Joseph Cardoso maintained a Neutral rating, while adjusting the price target down from $126 to $123 as of June 26, and has a 64% accuracy rate.
- Barclays analyst Tim Long kept an Equal-Weight rating yet raised the target from $111 to $118 on March 27, achieving a 74% accuracy rate.
Analyst Recommendations for Potential Investors
As investors consider the prospect of investing in SNX stock, these insights provide a glimpse into the collective view of analysts. It’s crucial to weigh their recommendations against your own investment strategy and goals.
Conclusion
With the impending announcement of quarterly earnings, potential investors and market participants will be keeping a close watch on TD SYNNEX. The combination of recent strategic moves and analyst expectations sets the stage for an intriguing financial reveal.
Frequently Asked Questions
What is the expected earnings per share for TD SYNNEX this quarter?
The expected earnings per share for TD SYNNEX this quarter is approximately $2.80.
How much revenue is TD SYNNEX projected to report?
TD SYNNEX is projected to report revenue of around $14.11 billion for the quarter.
Who are some key analysts covering TD SYNNEX?
Key analysts covering TD SYNNEX include Vincent Colicchio, Ashish Sabadra, David Vogt, Joseph Cardoso, and Tim Long.
What was the stock price of TD SYNNEX recently?
Recently, TD SYNNEX shares fell to a closing price of $117.29.
What recent acquisition did TD SYNNEX announce?
TD SYNNEX announced the acquisition of the IPsense Cloud Migration business in Brazil, which aims to bolster its cloud offerings.
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Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.
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