Tech Data Corporation (TECD) Updates FY18 Earnings Guidance

Tech Data Corporation (NASDAQ:TECD) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $8.75-9.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $8.85. The company issued revenue guidance of $36-37 billion, compared to the consensus revenue estimate of $36.15 billion.

Tech Data Corporation (NASDAQ TECD) opened at 92.29 on Wednesday. Tech Data Corporation has a 52-week low of $74.07 and a 52-week high of $111.10. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 17.52 and a beta of 0.78. The company has a 50 day moving average price of $91.89 and a 200-day moving average price of $96.93.

Tech Data Corporation (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, August 31st. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.32). Tech Data Corporation had a return on equity of 11.60% and a net margin of 0.63%. The business had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $8.74 billion. During the same quarter last year, the company earned $1.42 earnings per share. The firm’s revenue was up 39.8% compared to the same quarter last year. Equities research analysts anticipate that Tech Data Corporation will post $8.82 EPS for the current year.

Several equities research analysts have issued reports on the company. Citigroup Inc. restated a hold rating and issued a $100.00 price target on shares of Tech Data Corporation in a report on Friday, September 1st. Needham & Company LLC restated a buy rating and issued a $100.00 price target (down from $107.00) on shares of Tech Data Corporation in a report on Monday, September 18th. Loop Capital restated a buy rating and issued a $120.00 price target (down from $130.00) on shares of Tech Data Corporation in a report on Friday, September 1st. Zacks Investment Research cut Tech Data Corporation from a buy rating to a hold rating in a research report on Monday, September 4th. Finally, BidaskClub cut Tech Data Corporation from a buy rating to a hold rating in a research report on Friday, August 11th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Tech Data Corporation has an average rating of Buy and an average price target of $109.00.

In other news, CFO Alain Amsellem sold 1,648 shares of the company’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $106.31, for a total transaction of $175,198.88. Following the completion of the transaction, the chief financial officer now directly owns 26,479 shares of the company’s stock, valued at $2,814,982.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

WARNING: This report was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this report on another site, it was illegally copied and reposted in violation of US and international trademark and copyright law. The correct version of this report can be viewed at https://stocknewstimes.com/2017/10/11/tech-data-corporation-tecd-updates-fy18-earnings-guidance.html.

Tech Data Corporation 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.

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

Receive News & Ratings for Tech Data Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply