In a remarkable display of market confidence, Synnex Corporation (SNX) stock has reached an all-time high, touching a price level of $133.88. With a market capitalization of $11.3 billion and analyst targets ranging from $130 to $150, InvestingPro analysis suggests the stock is currently trading below its Fair Value. This peak represents a significant milestone for the IT services company, reflecting a robust performance over the past year. Investors have shown their approval of Synnex’s strategic initiatives and growth prospects, propelling the stock to new heights. The company’s management has been actively buying back shares while maintaining an 11-year streak of consistent dividend payments, currently yielding 1.3%. Over the course of the last year, Synnex has seen an impressive 27.55% change in its stock price, underscoring the positive sentiment and strong investor interest in the company’s trajectory. InvestingPro subscribers can access 12 additional investment tips and a comprehensive Pro Research Report for deeper insights into SNX’s potential.
In other recent news, TD Synnex outperformed Q4 estimates, reporting adjusted earnings per share of $3.09 and revenue of $15.84 billion, exceeding analysts’ projections. This success was primarily driven by a 10% YoY rise in Q4 revenue from growth in Advanced Solutions and Endpoint Solutions portfolios. Raymond (NS:) James analyst Adam Tindle has subsequently increased the price target for TD Synnex to $150, maintaining an Outperform rating on the stock. The company has demonstrated strong growth under the leadership of CEO Patrick Zammit, with robust cash flow and a strategic shift towards profitable growth. TD Synnex returned over 70% of its $1 billion-plus free cash flow to shareholders in the past year through an aggressive share buyback program and consistent dividend payments. Looking ahead, the company expects Q1 revenue between $14.4 billion and $15.2 billion, and forecasts Q1 adjusted EPS of $2.65 to $3.15. These are among the recent developments for TD Synnex, a company that continues to deliver strong results due to its end-to-end portfolio and global reach.
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