TD Synnex gains after Q3 results top estimates

TD Synnex

26/09/2024 16:18

** Shares of IT-services firm TD Synnex  SNX.N  rise as much
as 3.1% on Thurs to $120.92, about 1-mth high, after qtrly
results beat consensus
    ** Stock last up 0.6% at $118
    ** Co posts fiscal Q3 rev of $14.7 bln, up 5% yr/yr, and adj
EPS of $2.86
    ** Street expected rev of $14.1 bln and earnings of $2.80,
per LSEG data
    ** Co says saw significant growth across geographic segments
and in both its endpoint and advanced solutions businesses
    ** For current qtr, co projects rev of $14.9-$15.7 bln and
adj EPS of $2.80-$3.30. Analysts had forecast earnings of $3.22
    ** 10 of 13 analysts covering SNX rate stock "strong buy" or
"buy", rest "hold" and median PT is $136.93 - LSEG
    ** With move on the session, stock up ~9% YTD vs 20% advance
in S&P 400 Information Tech index  .SPMDCT 

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))