Shares of Tech Data Corp (NASDAQ:TECD) 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 traded.
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 net margin of 0.32% and a return on equity of 12.83%. The firm had revenue of $11.09 billion during the quarter, compared to the consensus estimate of $10.57 billion. During the same quarter in the prior year, the firm posted $2.45 earnings per share. The company’s revenue was up 49.3% on a year-over-year basis.
TECD has been the topic of a number of research reports. BidaskClub upgraded Tech Data from a “hold” rating to a “buy” rating in a research note on Tuesday, January 9th. Pivotal Research set a $114.00 price objective on Tech Data and gave the company a “buy” rating in a research note on Tuesday, November 28th. Raymond James Financial restated a “hold” rating on shares of Tech Data in a research note on Tuesday, November 28th. Citigroup restated a “hold” rating and issued a $110.00 price objective on shares of Tech Data in a research note on Tuesday, November 28th. Finally, Needham & Company LLC boosted their price objective on Tech Data from $102.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, November 28th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $110.29.
The stock has a market cap of $3,296.44, a PE ratio of 29.41, a price-to-earnings-growth ratio of 0.37 and a beta of 0.64. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.89 and a current ratio of 1.26.
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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