Tech Data Corp (NASDAQ:TECD)’s share price gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $73.41, but opened at $86.40. Tech Data shares last traded at $88.52, with a volume of 941124 shares changing hands.
The company reported $3.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.53 by ($0.03). The firm had revenue of $11.09 billion for the quarter, compared to analysts’ expectations of $10.57 billion. Tech Data had a return on equity of 12.83% and a net margin of 0.32%. Tech Data’s revenue was up 49.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.45 earnings per share.
A number of equities analysts have issued reports on the stock. BidaskClub raised shares of Tech Data from a “hold” rating to a “buy” rating in a report on Saturday, March 3rd. Northcoast Research set a $127.00 price objective on shares of Tech Data and gave the stock a “buy” rating in a report on Wednesday, February 28th. ValuEngine raised shares of Tech Data from a “hold” rating to a “buy” rating in a report on Wednesday, November 29th. Raymond James Financial reaffirmed a “hold” rating on shares of Tech Data in a report on Tuesday, November 28th. Finally, Citigroup reaffirmed a “hold” rating and set a $110.00 price objective on shares of Tech Data in a report on Tuesday, November 28th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Tech Data presently has an average rating of “Buy” and a consensus target price of $110.29.
The company has a debt-to-equity ratio of 0.52, a current ratio of 1.26 and a quick ratio of 0.89. The stock has a market capitalization of $3,296.44, a price-to-earnings ratio of 29.41, a price-to-earnings-growth ratio of 0.37 and a beta of 0.64.
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About Tech Data
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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