Tech Data (TECD) Releases Q4 2019 Earnings Guidance

Tech Data (NASDAQ:TECD) updated its fourth quarter 2019 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.90-4.20 for the period, compared to the Thomson Reuters consensus estimate of $3.77. The company issued revenue guidance of $10.5-10.9 billion, compared to the consensus revenue estimate of $10.28 billion.Tech Data also updated its Q4 guidance to $3.90-4.20 EPS.

A number of brokerages have issued reports on TECD. Needham & Company LLC increased their target price on shares of Tech Data to $110.00 and gave the company a buy rating in a report on Friday. ValuEngine raised shares of Tech Data from a sell rating to a hold rating in a report on Friday. Citigroup dropped their target price on shares of Tech Data from $95.00 to $85.00 and set a neutral rating for the company in a report on Friday, August 31st. BidaskClub raised shares of Tech Data from a sell rating to a hold rating in a report on Friday, October 5th. Finally, Zacks Investment Research reaffirmed a hold rating and issued a $82.00 target price on shares of Tech Data in a report on Friday, November 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Tech Data has a consensus rating of Hold and an average price target of $99.86.

Shares of Tech Data stock opened at $89.95 on Friday. Tech Data has a 12-month low of $66.93 and a 12-month high of $108.62. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.87. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 8.67, a P/E/G ratio of 1.69 and a beta of 0.67.

Tech Data (NASDAQ:TECD) last issued its earnings results on Thursday, November 29th. The company reported $3.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.17 by $0.85. Tech Data had a net margin of 0.59% and a return on equity of 13.92%. The company had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the company posted $2.00 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts predict that Tech Data will post 9.84 earnings per share for the current year.

Tech Data announced that its board has approved a stock repurchase plan on Tuesday, October 2nd that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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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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