TD Synnex Corp [NYSE: SNX] closed the trading session at $116.43. The company report on March 27, 2024 at 10:35 PM that TD SYNNEX Announces Pricing of Upsized Secondary Public Offering of Common Stock and Concurrent Share Repurchase.
TD SYNNEX Corporation (NYSE: SNX) (“TD SYNNEX” or the “Company”) today announced the pricing and upsize of the previously announced secondary public offering of 10,500,000 shares of its common stock. All of the shares in the offering are being sold by certain entities managed by affiliates of Apollo Global Management, Inc. (the “Selling Stockholders”). The offering is expected to close on or about April 2, 2024, subject to customary closing conditions. The underwriters will have a 30-day option to purchase up to an additional 1,575,000 shares of common stock from the Selling Stockholders. TD SYNNEX will not receive any of the proceeds from the sale of shares by the Selling Stockholders in the offering.
In addition, the Company has agreed to purchase from the underwriters 500,000 shares of common stock that are the subject of the offering at a price per share equal to the price per share to be paid by the underwriters to the Selling Stockholders (the “Concurrent Share Repurchase”) under the Company’s existing share repurchase program. The Company plans to fund the Concurrent Share Repurchase from existing cash on hand. The underwriters will not receive any compensation for the shares being repurchased by the Company.
The stocks have a year to date performance of 8.20 percent and weekly performance of 10.42 percent. The stock has been moved at 16.59 percent over the last six months. The stock has performed 10.53 percent around the most recent 30 days and changed 8.20 percent over the most recent 3-months.
If compared to the average trading volume of 819.61K shares, SNX reached to a volume of 6752666 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about TD Synnex Corp [SNX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SNX shares is $126.64 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SNX stock is a recommendation set at 1.83. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for TD Synnex Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 08, 2024. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on November 22, 2023, representing the official price target for TD Synnex Corp stock. Previously, the target price had yet another raise to $101, while Goldman analysts kept a Buy rating on SNX stock.
The Average True Range (ATR) for TD Synnex Corp is set at 2.64, with the Price to Sales ratio for SNX stock in the period of the last 12 months amounting to 0.18. The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 11.76. Price to Free Cash Flow for SNX in the course of the last twelve months was 8.12 with Quick ratio for the last quarter at 0.75.
SNX stock trade performance evaluation
TD Synnex Corp [SNX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.42. With this latest performance, SNX shares gained by 10.53% in over the last four-week period, additionally plugging by 16.59% over the last 6 months – not to mention a rise of 23.22% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SNX stock in for the last two-week period is set at 73.76, with the RSI for the last a single of trading hit 76.81, and the three-weeks RSI is set at 70.64 for TD Synnex Corp [SNX]. The present Moving Average for the last 50 days of trading for this stock 104.08, while it was recorded at 114.11 for the last single week of trading, and 100.15 for the last 200 days.
TD Synnex Corp [SNX]: An insightful look at the core fundamentals
TD Synnex Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.75 and a Current Ratio set at 1.22.
Earnings per share (EPS) analysis for TD Synnex Corp [SNX] stock
With the latest financial reports released by the company, TD Synnex Corp posted 2.43/share EPS, while the average EPS was predicted by analysts to be reported at 2.55/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -4.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SNX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for TD Synnex Corp go to 7.30%.
TD Synnex Corp [SNX]: Institutional Ownership
The top three institutional holders of SNX stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in SNX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in SNX stock with ownership which is approximately 5.8386%.
