Tech Data Corp (TECD) Releases Earnings Results, Beats Expectations By $0.11 EPS

Tech Data Corp (TECD) reported quarterly earnings results on Thursday, May-26-2016. The company said it had a profit of $1.05 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.11. Analysts had a consensus of $0.94. The company posted revenue of $5963.40 million in the period, compared to analysts expectations of $5983.61 million. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.

Many Wall Street Analysts have commented on Tech Data Corp. Shares were Downgraded by Citigroup on May 2, 2016 to ” Sell” and Lowered the Price Target to $ 55 from a previous price target of $76 .

Tech Data Corp opened for trading at $69.27 and hit $69.95 on the upside on Wednesday, eventually ending the session at $69.41, with a gain of 0.80% or 0.55 points. The heightened volatility saw the trading volume jump to 4,22,574 shares. Company has a market cap of $2,435 M.

In a different news, on Mar 18, 2016, Steven A Raymund (director) sold 50,000 shares at $77.66 per share price. According to the SEC, on Mar 14, 2016, Alain Amsellem (SVP & CFO, Europe) sold 2,934 shares at $76.63 per share price. On Mar 11, 2016, Robert M Dutkowsky (Chief Executive Officer) sold 14,000 shares at $76.52 per share price, according to the Form-4 filing with the securities and exchange commission.

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 customers with logistics capabilities and services. Its customers include approximately 115000 value-added resellers (VARs) direct marketers retailers and corporate resellers who support the diverse technology needs of end users. It sells its products to customers in more than 100 countries throughout North America South America Europe the Middle East and Africa. The Company is managed in two geographic segments: the Americas and Europe. In addition to a range of product offerings the Company provides resellers training and technical support suite of electronic commerce tools (including Internet order entry and electronic data interchange (EDI) services) customized shipping documents product configuration or integration services and access to financing programs.

Tech Data Corp

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