Equities analysts expect Tech Data Corp (NASDAQ:TECD) to report earnings of $1.98 per share for the current quarter, according to Zacks. Two analysts have made estimates for Tech Data’s earnings. The lowest EPS estimate is $1.92 and the highest is $2.06. Tech Data reported earnings of $1.84 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 7.6%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, May 30th.
On average, analysts expect that Tech Data will report full year earnings of $11.84 per share for the current year, with EPS estimates ranging from $11.34 to $12.06. For the next year, analysts expect that the business will post earnings of $12.26 per share, with EPS estimates ranging from $11.72 to $12.65. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Tech Data.
Tech Data (NASDAQ:TECD) last issued its quarterly earnings data on Thursday, March 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.03 by $0.52. The business had revenue of $10.47 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Tech Data had a return on equity of 15.17% and a net margin of 0.91%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.50 EPS.
TECD has been the subject of several research reports. Zacks Investment Research upgraded Tech Data from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Monday, February 4th. BidaskClub lowered Tech Data from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Finally, Stifel Nicolaus lowered Tech Data from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $98.83.
Shares of Tech Data stock opened at $91.99 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. Tech Data has a twelve month low of $66.93 and a twelve month high of $111.08. The stock has a market capitalization of $3.47 billion, a P/E ratio of 8.08, a price-to-earnings-growth ratio of 3.87 and a beta of 0.96.
In other Tech Data news, Director Robert M. Dutkowsky sold 14,892 shares of Tech Data stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $108.02, for a total value of $1,608,633.84. Following the completion of the sale, the director now directly owns 219,938 shares of the company’s stock, valued at approximately $23,757,702.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael Rabinovitch sold 1,133 shares of Tech Data stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $99.06, for a total transaction of $112,234.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,141 shares of company stock valued at $6,446,465. Corporate insiders own 1.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of TECD. JPMorgan Chase & Co. lifted its position in Tech Data by 1.7% in the third quarter. JPMorgan Chase & Co. now owns 1,021,605 shares of the company’s stock valued at $73,116,000 after purchasing an additional 16,863 shares during the period. Legal & General Group Plc boosted its holdings in Tech Data by 3.9% in the 3rd quarter. Legal & General Group Plc now owns 90,178 shares of the company’s stock valued at $6,454,000 after purchasing an additional 3,418 shares during the period. First Hawaiian Bank bought a new stake in Tech Data in the 4th quarter valued at $48,000. Fox Run Management L.L.C. acquired a new position in shares of Tech Data in the 4th quarter valued at $342,000. Finally, Virtu Financial LLC acquired a new position in shares of Tech Data in the 4th quarter valued at $930,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.
Tech Data Company Profile
Tech Data Corporation operates as an IT distribution and solutions company. The company offers endpoint portfolio solutions, including personal computer systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics. It also provides advanced portfolio solutions, such as data center technologies comprising storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
Further Reading: What is the yield curve?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tech Data Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data and related companies with MarketBeat.com's FREE daily email newsletter.