Tech Data Corp (TECD) Expected to Announce Quarterly Sales of $10.54 Billion
Equities research analysts predict that Tech Data Corp (NASDAQ:TECD) will post $10.54 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Tech Data’s earnings, with estimates ranging from $10.51 billion to $10.59 billion. Tech Data reported sales of $7.43 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 41.9%. The business is scheduled to report its next earnings results on Wednesday, March 14th.
According to Zacks, analysts expect that Tech Data will report full year sales of $10.54 billion for the current financial year, with estimates ranging from $36.19 billion to $36.28 billion. For the next fiscal year, analysts anticipate that the company will post sales of $37.20 billion per share, with estimates ranging from $36.90 billion to $37.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Tech Data.
Tech Data (NASDAQ:TECD) last issued its quarterly earnings data on Monday, November 27th. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.10. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.10 billion. Tech Data had a return on equity of 11.90% and a net margin of 0.59%. Tech Data’s quarterly revenue was up 40.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.44 EPS.
Several equities research analysts recently commented on TECD shares. ValuEngine upgraded Tech Data from a “hold” rating to a “buy” rating in a research report on Wednesday, November 29th. Needham & Company LLC restated a “buy” rating and set a $100.00 target price (down previously from $107.00) on shares of Tech Data in a research report on Monday, September 18th. Raymond James Financial reaffirmed a “hold” rating on shares of Tech Data in a research note on Tuesday, November 28th. Pivotal Research set a $114.00 price target on Tech Data and gave the stock a “buy” rating in a research note on Tuesday, November 28th. Finally, Zacks Investment Research raised Tech Data from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $112.33.
In other news, COO Richard T. Hume sold 3,100 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $98.06, for a total value of $303,986.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of TECD. BlackRock Inc. boosted its holdings in shares of Tech Data by 24.1% in the second quarter. BlackRock Inc. now owns 4,780,405 shares of the company’s stock worth $482,820,000 after acquiring an additional 927,770 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of Tech Data in the third quarter worth $76,672,000. Janus Henderson Group PLC purchased a new stake in shares of Tech Data in the second quarter worth $35,974,000. Numeric Investors LLC raised its position in shares of Tech Data by 1,589.9% in the second quarter. Numeric Investors LLC now owns 326,156 shares of the company’s stock worth $32,942,000 after buying an additional 306,856 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Tech Data by 37.5% in the second quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock worth $79,316,000 after buying an additional 214,058 shares in the last quarter. 98.10% of the stock is owned by hedge funds and other institutional investors.
Shares of Tech Data (NASDAQ:TECD) opened at $101.69 on Friday. The firm has a market capitalization of $3,890.00, a price-to-earnings ratio of 19.41, a P/E/G ratio of 0.50 and a beta of 0.78. Tech Data has a 52-week low of $81.42 and a 52-week high of $111.10. The company has a current ratio of 1.35, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.
About Tech Data
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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