$10.54 Billion in Sales Expected for Tech Data Corp (TECD) This Quarter

Wall Street brokerages forecast that Tech Data Corp (NASDAQ:TECD) will post sales of $10.54 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Tech Data’s earnings, with the lowest sales estimate coming in at $10.51 billion and the highest estimate coming in at $10.59 billion. Tech Data posted sales of $7.43 billion during the same quarter last year, which would indicate a positive year over year growth rate of 41.9%. The business is expected to announce its next earnings report on Wednesday, March 14th.

On average, analysts expect that Tech Data will report full-year sales of $10.54 billion for the current financial year, with estimates ranging from $36.19 billion to $36.28 billion. For the next year, analysts anticipate that the company will report sales of $37.20 billion per share, with estimates ranging from $36.90 billion to $37.39 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Tech Data.

Tech Data (NASDAQ:TECD) last announced its quarterly earnings data on Monday, November 27th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.10. Tech Data had a return on equity of 11.90% and a net margin of 0.59%. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same period last year, the business posted $1.44 earnings per share. The firm’s revenue for the quarter was up 40.8% on a year-over-year basis.

TECD has been the topic of a number of recent research reports. Zacks Investment Research upgraded Tech Data from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Northcoast Research upgraded Tech Data from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 5th. Loop Capital reiterated a “buy” rating and issued a $120.00 target price (down from $130.00) on shares of Tech Data in a research note on Friday, September 1st. Needham & Company LLC raised their target price on Tech Data from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, October 12th. Finally, Pivotal Research initiated coverage on Tech Data in a research note on Friday, October 6th. They issued a “buy” rating and a $114.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Tech Data currently has a consensus rating of “Buy” and a consensus target price of $112.33.

Tech Data (NASDAQ TECD) opened at $98.12 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 1.35. The stock has a market capitalization of $3,737.11, a price-to-earnings ratio of 12.15, a P/E/G ratio of 0.49 and a beta of 0.78. Tech Data has a one year low of $81.42 and a one year high of $111.10.

In other news, COO Richard T. Hume sold 3,100 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $98.06, for a total transaction of $303,986.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. SpiderRock Advisors LLC acquired a new position in Tech Data during the third quarter worth about $106,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tech Data by 15.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,490 shares of the company’s stock worth $150,000 after acquiring an additional 195 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Tech Data during the third quarter worth about $201,000. Cipher Capital LP acquired a new position in Tech Data during the third quarter worth about $206,000. Finally, GSA Capital Partners LLP acquired a new position in Tech Data during the third quarter worth about $212,000. 98.10% of the stock is currently owned by hedge funds and other institutional investors.

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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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