FY2020 EPS Estimates for Tech Data Corp Reduced by Northcoast Research (NASDAQ:TECD)

Tech Data Corp (NASDAQ:TECD) – Stock analysts at Northcoast Research cut their FY2020 earnings per share estimates for Tech Data in a report released on Wednesday, November 13th, according to Zacks Investment Research. Northcoast Research analyst K. Housum now forecasts that the company will post earnings of $12.59 per share for the year, down from their prior estimate of $12.63. Northcoast Research currently has a “Buy” rating and a $115.00 target price on the stock. Northcoast Research also issued estimates for Tech Data’s Q4 2020 earnings at $4.90 EPS, Q1 2021 earnings at $2.39 EPS, Q2 2021 earnings at $2.76 EPS, Q3 2021 earnings at $3.24 EPS, Q4 2021 earnings at $4.95 EPS and FY2021 earnings at $13.32 EPS.

Several other research firms have also commented on TECD. ValuEngine raised Tech Data from a “sell” rating to a “hold” rating in a report on Friday. Citigroup set a $100.00 target price on Tech Data and gave the stock a “hold” rating in a report on Friday, August 30th. Loop Capital raised their target price on Tech Data to $150.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Zacks Investment Research upgraded Tech Data from a “sell” rating to a “hold” rating and set a $95.00 price target on the stock in a research report on Friday, August 23rd. Finally, BidaskClub upgraded Tech Data from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Tech Data presently has an average rating of “Buy” and a consensus target price of $112.50.

Tech Data stock traded up $15.89 during midday trading on Friday, hitting $144.89. 1,462,855 shares of the company were exchanged, compared to its average volume of 703,789. The firm has a market capitalization of $4.59 billion, a PE ratio of 10.49 and a beta of 1.15. Tech Data has a fifty-two week low of $74.16 and a fifty-two week high of $145.25. The business has a fifty day simple moving average of $124.55 and a two-hundred day simple moving average of $104.55. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 1.27.

Tech Data (NASDAQ:TECD) last announced its earnings results on Tuesday, November 26th. The company reported $3.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.99 by $0.03. The company had revenue of $9.12 billion for the quarter, compared to analyst estimates of $9.37 billion. Tech Data had a return on equity of 15.59% and a net margin of 0.92%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.02 EPS.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TECD. Personal Wealth Partners purchased a new position in Tech Data during the second quarter worth approximately $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Tech Data during the second quarter worth approximately $33,000. Advisory Services Network LLC lifted its position in Tech Data by 49.0% during the second quarter. Advisory Services Network LLC now owns 359 shares of the company’s stock worth $38,000 after buying an additional 118 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Tech Data during the second quarter worth approximately $58,000. Finally, Quantamental Technologies LLC purchased a new position in Tech Data during the second quarter worth approximately $77,000.

In other news, CFO Charles V. Dannewitz sold 1,050 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $103.60, for a total value of $108,780.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Michael Rabinovitch sold 349 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $104.85, for a total value of $36,592.65. The disclosure for this sale can be found here. Insiders have sold 12,899 shares of company stock worth $1,352,943 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Tech Data Company Profile

Tech Data Corporation operates as an IT distribution and solutions company. The company offers endpoint portfolio solutions, including personal computer systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics. It also provides advanced portfolio solutions, such as data center technologies comprising storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.