Tech Data (NASDAQ:TECD) Announces Earnings Results

Tech Data (NASDAQ:TECD) issued its quarterly earnings results on Tuesday. The company reported $3.02 EPS for the quarter, beating the Zacks’ consensus estimate of $2.99 by $0.03, Briefing.com reports. The business had revenue of $9.12 billion for the quarter, compared to analysts’ expectations of $9.37 billion. Tech Data had a net margin of 0.98% and a return on equity of 15.96%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.02 earnings per share.

Shares of TECD stock traded down $0.03 on Thursday, reaching $129.00. 505,395 shares of the company were exchanged, compared to its average volume of 670,469. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 11.34 and a beta of 1.15. The company has a 50-day moving average of $123.23 and a 200-day moving average of $104.20. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.27 and a quick ratio of 0.86. Tech Data has a one year low of $70.41 and a one year high of $131.70.

In other news, Director Robert M. Dutkowsky sold 10,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $105.04, for a total transaction of $1,050,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Beth E. Simonetti sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $104.78, for a total transaction of $157,170.00. The disclosure for this sale can be found here. Insiders have sold a total of 12,899 shares of company stock worth $1,352,943 in the last three months. Insiders own 1.10% of the company’s stock.

A number of analysts have commented on the stock. Loop Capital upped their price target on shares of Tech Data to $150.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. BidaskClub raised shares of Tech Data from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. ValuEngine raised shares of Tech Data from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 15th. Zacks Investment Research raised shares of Tech Data from a “sell” rating to a “hold” rating and set a $95.00 price target on the stock in a research report on Friday, August 23rd. Finally, Citigroup set a $100.00 price objective on shares of Tech Data and gave the stock a “hold” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Tech Data presently has an average rating of “Hold” and an average price target of $112.50.

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.

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Earnings History for Tech Data (NASDAQ:TECD)

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