Wall Street brokerages expect Tech Data Corp (NASDAQ:TECD) to report sales of $8.17 billion for the current quarter, according to Zacks. Two analysts have made estimates for Tech Data’s earnings. The highest sales estimate is $8.18 billion and the lowest is $8.16 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 6.7%. The company is expected to announce its next quarterly earnings results on Thursday, June 7th.
On average, analysts expect that Tech Data will report full-year sales of $8.17 billion for the current financial year, with estimates ranging from $34.74 billion to $37.89 billion. For the next financial year, analysts forecast that the company will report sales of $36.00 billion per share, with estimates ranging from $35.41 billion to $36.59 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Tech Data.
Tech Data (NASDAQ:TECD) last released its earnings results on Thursday, March 8th. The company reported $3.50 earnings per share for the quarter, missing analysts’ consensus estimates of $3.53 by ($0.03). Tech Data had a return on equity of 12.83% and a net margin of 0.32%. The firm had revenue of $11.09 billion for the quarter, compared to analyst estimates of $10.57 billion. During the same period last year, the business earned $2.45 earnings per share. The firm’s quarterly revenue was up 49.3% compared to the same quarter last year.
TECD has been the topic of a number of recent research reports. Stifel Nicolaus reissued a “buy” rating and set a $110.00 target price (down from $120.00) on shares of Tech Data in a research report on Friday, March 9th. Pivotal Research set a $105.00 target price on Tech Data and gave the stock a “buy” rating in a research report on Thursday, March 8th. BidaskClub raised Tech Data from a “hold” rating to a “buy” rating in a research report on Saturday, March 3rd. Northcoast Research set a $127.00 target price on Tech Data and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, ValuEngine raised Tech Data from a “hold” rating to a “buy” rating in a research report on Wednesday, November 29th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $110.29.
Shares of Tech Data (NASDAQ TECD) opened at $88.64 on Wednesday. Tech Data has a 1 year low of $81.42 and a 1 year high of $111.10. The firm has a market capitalization of $3,380.00, a PE ratio of 16.03, a P/E/G ratio of 0.38 and a beta of 0.64. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.88 and a current ratio of 1.26.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Tech Data by 1.6% during the fourth quarter. BlackRock Inc. now owns 3,746,695 shares of the company’s stock valued at $367,063,000 after purchasing an additional 59,230 shares in the last quarter. LSV Asset Management boosted its holdings in Tech Data by 5.9% during the fourth quarter. LSV Asset Management now owns 1,479,480 shares of the company’s stock valued at $144,944,000 after purchasing an additional 82,640 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Tech Data during the third quarter valued at approximately $76,672,000. Victory Capital Management Inc. boosted its holdings in Tech Data by 20.2% during the fourth quarter. Victory Capital Management Inc. now owns 745,119 shares of the company’s stock valued at $73,000,000 after purchasing an additional 125,399 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in Tech Data by 0.5% during the fourth quarter. Macquarie Group Ltd. now owns 657,627 shares of the company’s stock valued at $64,428,000 after purchasing an additional 3,119 shares in the last quarter. 96.14% of the stock is currently owned by institutional investors.
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Tech Data Company Profile
Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services.
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