Zacks: Brokerages Expect Tech Data Corp (TECD) Will Post Quarterly Sales of $8.18 Billion

Equities research analysts expect Tech Data Corp (NASDAQ:TECD) to announce sales of $8.18 billion for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Tech Data’s earnings, with the highest sales estimate coming in at $8.22 billion and the lowest estimate coming in at $8.16 billion. Tech Data posted sales of $7.66 billion in the same quarter last year, which suggests a positive year over year growth rate of 6.8%. The company is expected to announce its next earnings report on Thursday, June 7th.

According to Zacks, analysts expect that Tech Data will report full year sales of $8.18 billion for the current financial year, with estimates ranging from $34.74 billion to $36.02 billion. For the next year, analysts expect that the company will post sales of $36.00 billion per share, with estimates ranging from $35.41 billion to $36.59 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Tech Data.

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Tech Data (NASDAQ:TECD) last released its quarterly earnings results on Thursday, March 8th. The company reported $3.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.53 by ($0.03). Tech Data had a return on equity of 12.83% and a net margin of 0.32%. The company had revenue of $11.09 billion for the quarter, compared to analysts’ expectations of $10.57 billion. During the same period in the prior year, the business earned $2.45 EPS. The business’s quarterly revenue was up 49.3% compared to the same quarter last year.

A number of equities analysts recently issued reports on TECD shares. Citigroup reissued a “hold” rating and set a $110.00 price target on shares of Tech Data in a report on Tuesday, November 28th. Needham & Company LLC raised their price target on Tech Data from $102.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, November 28th. Pivotal Research set a $114.00 price target on Tech Data and gave the stock a “buy” rating in a report on Tuesday, November 28th. Raymond James Financial reissued a “hold” rating on shares of Tech Data in a report on Tuesday, November 28th. Finally, ValuEngine raised Tech Data from a “hold” rating to a “buy” rating in a report on Wednesday, November 29th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Tech Data has a consensus rating of “Buy” and a consensus target price of $110.29.

Tech Data (NASDAQ TECD) traded down $2.70 during midday trading on Wednesday, hitting $85.47. The company had a trading volume of 469,694 shares, compared to its average volume of 389,589. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.88 and a current ratio of 1.26. Tech Data has a 52-week low of $81.42 and a 52-week high of $111.10. The stock has a market capitalization of $3,364.71, a price-to-earnings ratio of 27.93, a P/E/G ratio of 1.10 and a beta of 0.64.

Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. raised its position in shares of Tech Data by 139.1% during the 3rd quarter. American Century Companies Inc. now owns 210,241 shares of the company’s stock worth $18,680,000 after purchasing an additional 122,298 shares during the last quarter. Copper Rock Capital Partners LLC grew its stake in Tech Data by 3.6% in the 4th quarter. Copper Rock Capital Partners LLC now owns 235,314 shares of the company’s stock worth $23,113,000 after acquiring an additional 8,146 shares during the period. Quantbot Technologies LP grew its stake in Tech Data by 66.8% in the 3rd quarter. Quantbot Technologies LP now owns 7,330 shares of the company’s stock worth $651,000 after acquiring an additional 2,936 shares during the period. Wells Fargo & Company MN grew its stake in Tech Data by 163.1% in the 3rd quarter. Wells Fargo & Company MN now owns 215,384 shares of the company’s stock worth $19,137,000 after acquiring an additional 133,530 shares during the period. Finally, Stifel Financial Corp grew its stake in Tech Data by 39.6% in the 3rd quarter. Stifel Financial Corp now owns 24,750 shares of the company’s stock worth $2,198,000 after acquiring an additional 7,018 shares during the period. Hedge funds and other institutional investors own 96.18% of the company’s stock.

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Tech Data Company Profile

Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services.

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Earnings History and Estimates for Tech Data (NASDAQ:TECD)

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