Brokerages expect Tech Data (NASDAQ:TECD) to post earnings of $1.48 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Tech Data’s earnings, with the lowest EPS estimate coming in at $1.45 and the highest estimate coming in at $1.54. Tech Data posted earnings per share of $1.87 during the same quarter last year, which suggests a negative year-over-year growth rate of 20.9%. The business is scheduled to report its next quarterly earnings report before the market opens on Thursday, May 31st.
According to Zacks, analysts expect that Tech Data will report full year earnings of $10.65 per share for the current year, with EPS estimates ranging from $10.42 to $10.80. For the next year, analysts forecast that the company will report earnings of $11.10 per share, with EPS estimates ranging from $10.97 to $11.20. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Tech Data.
Tech Data (NASDAQ:TECD) last announced its earnings results on Thursday, March 8th. The company reported $3.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.53 by ($0.03). Tech Data had a net margin of 0.32% and a return on equity of 12.83%. 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 firm earned $2.45 earnings per share. Tech Data’s revenue for the quarter was up 49.3% compared to the same quarter last year.
Several analysts have issued reports on TECD shares. Bank of America cut their target price on shares of Tech Data from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, March 9th. BidaskClub downgraded shares of Tech Data from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. ValuEngine downgraded shares of Tech Data from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Pivotal Research set a $105.00 target price on shares of Tech Data and gave the company a “buy” rating in a research note on Thursday, March 8th. Finally, Northcoast Research set a $127.00 target price on shares of Tech Data and gave the company a “buy” rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Tech Data currently has an average rating of “Hold” and a consensus target price of $110.29.
NASDAQ:TECD traded up $0.47 during trading hours on Friday, hitting $80.98. 223,173 shares of the stock traded hands, compared to its average volume of 422,331. The company has a quick ratio of 0.88, a current ratio of 1.26 and a debt-to-equity ratio of 0.52. Tech Data has a fifty-two week low of $75.31 and a fifty-two week high of $111.10. The company has a market cap of $3.07 billion, a P/E ratio of 8.89, a price-to-earnings-growth ratio of 1.00 and a beta of 0.87.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Adviser Investments LLC acquired a new position in shares of Tech Data in the first quarter worth $106,000. IFP Advisors Inc increased its stake in shares of Tech Data by 407.4% in the first quarter. IFP Advisors Inc now owns 1,370 shares of the company’s stock worth $117,000 after acquiring an additional 1,100 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Tech Data during the fourth quarter worth $204,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Tech Data by 39.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,085 shares of the company’s stock worth $204,000 after buying an additional 595 shares during the last quarter. Finally, Creative Planning acquired a new position in Tech Data during the fourth quarter worth $205,000. 97.33% of the stock is currently owned by institutional investors and hedge funds.
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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