Tech Data Corporation (NASDAQ:TECD) updated its FY18 earnings guidance on Tuesday. The company provided EPS guidance of $8.75-9.25 for the period, compared to the Thomson Reuters consensus EPS estimate of $8.85. The company issued revenue guidance of $36-37 billion, compared to the consensus revenue estimate of $36.15 billion.
Several brokerages recently issued reports on TECD. Pivotal Research assumed coverage on shares of Tech Data Corporation in a research report on Friday. They set a buy rating and a $114.00 price target on the stock. ValuEngine raised Tech Data Corporation from a hold rating to a buy rating in a report on Monday, October 2nd. Needham & Company LLC reissued a buy rating and set a $100.00 price objective (down from $107.00) on shares of Tech Data Corporation in a report on Monday, September 18th. Northcoast Research raised Tech Data Corporation from a neutral rating to a buy rating in a report on Tuesday, September 5th. Finally, Zacks Investment Research cut Tech Data Corporation from a buy rating to a hold rating in a report on Monday, September 4th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $109.00.
Shares of Tech Data Corporation (NASDAQ TECD) traded up 0.95% during mid-day trading on Tuesday, reaching $92.29. The company’s stock had a trading volume of 828,180 shares. The company has a 50-day moving average of $92.17 and a 200-day moving average of $96.93. Tech Data Corporation has a 12 month low of $74.07 and a 12 month high of $111.10. The firm has a market cap of $3.52 billion, a PE ratio of 17.52 and a beta of 0.78.
Tech Data Corporation (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, August 31st. The company reported $1.74 EPS for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.32). Tech Data Corporation had a net margin of 0.63% and a return on equity of 11.60%. The firm had revenue of $8.88 billion for the quarter, compared to analyst estimates of $8.74 billion. During the same period in the previous year, the business posted $1.42 earnings per share. The business’s revenue for the quarter was up 39.8% compared to the same quarter last year. On average, analysts predict that Tech Data Corporation will post $8.82 earnings per share for the current year.
In other news, CFO Alain Amsellem sold 1,648 shares of Tech Data Corporation stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $106.31, for a total transaction of $175,198.88. Following the sale, the chief financial officer now directly owns 26,479 shares of the company’s stock, valued at $2,814,982.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.
About Tech Data Corporation
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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