Wall Street brokerages expect that Tech Data Corp (NASDAQ:TECD) will post $10.71 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Tech Data’s earnings, with the lowest sales estimate coming in at $10.67 billion and the highest estimate coming in at $10.75 billion. Tech Data posted sales of $11.09 billion in the same quarter last year, which would indicate a negative year over year growth rate of 3.4%. The business is scheduled to report its next quarterly earnings report before the market opens on Thursday, March 7th.
According to Zacks, analysts expect that Tech Data will report full year sales of $37.48 billion for the current year, with estimates ranging from $37.44 billion to $37.52 billion. For the next year, analysts expect that the firm will post sales of $38.33 billion, with estimates ranging from $38.21 billion to $38.54 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 released its earnings results on Thursday, November 29th. The company reported $3.02 EPS for the quarter, beating the consensus estimate of $2.17 by $0.85. Tech Data had a net margin of 0.59% and a return on equity of 13.92%. The business had revenue of $9.34 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same period in the prior year, the business earned $2.00 earnings per share. The business’s quarterly revenue was up 10.6% on a year-over-year basis.
Several analysts recently commented on the stock. Zacks Investment Research lowered shares of Tech Data from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. BidaskClub upgraded shares of Tech Data from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 15th. Needham & Company LLC increased their price target on shares of Tech Data to $110.00 and gave the stock a “buy” rating in a research note on Friday, November 30th. ValuEngine raised shares of Tech Data from a “sell” rating to a “hold” rating in a report on Friday, November 30th. Finally, TheStreet raised shares of Tech Data from a “c+” rating to a “b-” rating in a report on Thursday, December 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $103.57.
TECD stock opened at $106.17 on Monday. Tech Data has a 12 month low of $66.93 and a 12 month high of $108.62. The company has a market cap of $3.89 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96. The company has a quick ratio of 0.85, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.
In other news, VP John A. Tonnison sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 11th. The stock was sold at an average price of $87.04, for a total value of $435,200.00. Following the completion of the transaction, the vice president now owns 30,423 shares of the company’s stock, valued at $2,648,017.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles E. Adair sold 2,715 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $90.72, for a total value of $246,304.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,307 shares of company stock worth $1,646,157. Corporate insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc increased its position in shares of Tech Data by 2.4% during the 3rd quarter. Vanguard Group Inc now owns 3,473,612 shares of the company’s stock valued at $248,607,000 after purchasing an additional 81,529 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of Tech Data by 1,397.9% during the 3rd quarter. Panagora Asset Management Inc. now owns 62,464 shares of the company’s stock valued at $4,471,000 after acquiring an additional 58,294 shares during the last quarter. Quantbot Technologies LP lifted its position in Tech Data by 192.5% in the 3rd quarter. Quantbot Technologies LP now owns 1,977 shares of the company’s stock worth $141,000 after buying an additional 1,301 shares during the last quarter. BlackRock Inc. lifted its position in Tech Data by 3.8% in the 3rd quarter. BlackRock Inc. now owns 4,379,141 shares of the company’s stock worth $313,416,000 after buying an additional 159,706 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Tech Data by 15.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 9,168 shares of the company’s stock worth $656,000 after buying an additional 1,227 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.
Tech Data Company Profile
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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