Wall Street analysts predict that Tech Data (NASDAQ:TECD) will report earnings per share of $1.48 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Tech Data’s earnings, with the lowest EPS estimate coming in at $1.45 and the highest estimate coming in at $1.54. Tech Data posted earnings per share of $1.87 in the same quarter last year, which would suggest a negative year-over-year growth rate of 20.9%. The firm is scheduled to report its next earnings report before the market opens on Thursday, May 31st.
According to Zacks, analysts expect that Tech Data will report full year earnings of $10.65 per share for the current financial year, with EPS estimates ranging from $10.42 to $10.80. For the next financial year, analysts expect that the company will post earnings of $11.10 per share, with EPS estimates ranging from $10.97 to $11.20. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Tech Data.
Tech Data (NASDAQ:TECD) last posted its quarterly earnings data on Thursday, March 8th. The company reported $3.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.53 by ($0.03). The company had revenue of $11.09 billion for the quarter, compared to analysts’ expectations of $10.57 billion. Tech Data had a net margin of 0.32% and a return on equity of 12.83%. The firm’s revenue was up 49.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.45 earnings per share.
TECD has been the subject of several analyst reports. BidaskClub downgraded Tech Data from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Northcoast Research set a $127.00 price objective on Tech Data and gave the company a “buy” rating in a research note on Wednesday, February 28th. Pivotal Research set a $105.00 price objective on Tech Data and gave the company a “buy” rating in a research note on Thursday, March 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 price objective (down from $120.00) on shares of Tech Data in a research note on Friday, March 9th. Finally, Citigroup cut their target price on Tech Data from $110.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, March 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Tech Data presently has a consensus rating of “Hold” and an average price target of $110.29.
TECD traded down $1.20 on Friday, hitting $80.87. 1,528 shares of the company traded hands, compared to its average volume of 424,758. The company has a quick ratio of 0.88, a current ratio of 1.26 and a debt-to-equity ratio of 0.52. The company has a market cap of $3.13 billion, a PE ratio of 9.01, a P/E/G ratio of 1.02 and a beta of 0.87. Tech Data has a 12-month low of $75.31 and a 12-month high of $111.10.
Several hedge funds have recently modified their holdings of TECD. Adviser Investments LLC purchased a new position in shares of Tech Data during the 1st quarter worth approximately $106,000. IFP Advisors Inc raised its stake in shares of Tech Data by 407.4% during the 1st quarter. IFP Advisors Inc now owns 1,370 shares of the company’s stock worth $117,000 after buying an additional 1,100 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Tech Data during the 4th quarter worth approximately $204,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Tech Data by 39.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,085 shares of the company’s stock worth $204,000 after buying an additional 595 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of Tech Data during the 4th quarter worth approximately $205,000. 97.33% of the stock is owned by institutional investors and hedge funds.
About Tech Data
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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