Wall Street brokerages forecast that Tech Data (NASDAQ:TECD) will post $8.18 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Tech Data’s earnings. The lowest sales estimate is $8.16 billion and the highest is $8.22 billion. Tech Data posted sales of $7.66 billion during the same quarter last year, which suggests a positive year over year growth rate of 6.8%. The firm is scheduled to issue its next earnings results before the market opens on Thursday, May 31st.
According to Zacks, analysts expect that Tech Data will report full-year sales of $35.50 billion for the current year, with estimates ranging from $34.74 billion to $36.02 billion. For the next financial year, analysts anticipate that the firm will report sales of $36.00 billion per share, with estimates ranging from $35.41 billion to $36.59 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Tech Data.
Tech Data (NASDAQ:TECD) last posted its quarterly earnings results on Thursday, March 8th. The company reported $3.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.53 by ($0.03). The business had revenue of $11.09 billion for the quarter, compared to the consensus estimate of $10.57 billion. Tech Data had a return on equity of 12.83% and a net margin of 0.32%. Tech Data’s quarterly revenue was up 49.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.45 earnings per share.
A number of equities analysts have issued reports on the company. BidaskClub upgraded Tech Data from a “hold” rating to a “buy” rating in a report on Saturday, March 3rd. ValuEngine cut Tech Data from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Citigroup cut their price target on Tech Data from $110.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, March 9th. Northcoast Research set a $127.00 price target on Tech Data and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Bank of America cut their price target on Tech Data from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $110.29.
Several institutional investors and hedge funds have recently modified their holdings of TECD. Adviser Investments LLC bought a new position in shares of Tech Data in the 1st quarter worth $106,000. IFP Advisors Inc lifted its holdings in shares of Tech Data by 407.4% in the 1st quarter. IFP Advisors Inc now owns 1,370 shares of the company’s stock worth $117,000 after purchasing an additional 1,100 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Tech Data in the 4th quarter worth $204,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Tech Data by 39.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,085 shares of the company’s stock worth $204,000 after purchasing an additional 595 shares in the last quarter. Finally, Creative Planning bought a new position in shares of Tech Data in the 4th quarter worth $205,000. Institutional investors own 97.33% of the company’s stock.
Tech Data stock opened at $81.83 on Tuesday. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 1.02 and a beta of 0.87. Tech Data has a 52-week low of $75.31 and a 52-week high of $111.10. The company has a current ratio of 1.26, a quick ratio of 0.88 and a debt-to-equity ratio of 0.52.
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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