TD SYNNEX Analysts Increase Their Forecasts After Upbeat Q1 Earnings
Portfolio Pulse from Avi Kapoor
TD SYNNEX Corporation (NYSE:SNX) reported Q1 earnings surpassing expectations with an EPS of $2.99 against a forecast of $2.84, despite missing revenue estimates. The company announced a $2 billion share repurchase program and a quarterly dividend of $0.40 per share. For Q2, TD SYNNEX anticipates revenues between $13.3 billion and $14.9 billion, with an adjusted EPS of $2.50-$3.00. Following the earnings report, Barclays and RBC Capital raised their price targets for SNX to $118.
March 27, 2024 | 4:43 pm
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TD SYNNEX reported higher than expected Q1 earnings and announced a significant share repurchase program along with a quarterly dividend. Analysts from Barclays and RBC Capital raised their price targets to $118.
The positive earnings report, coupled with the announcement of a substantial share repurchase program and a steady dividend, signals strong financial health and confidence from the management. This, along with the raised price targets from reputable analysts, is likely to instill investor confidence and push the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100