Tech Data Reports Second Quarter Fiscal Year 2020 Results
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August 30, 2019 6:30 AM EDT
Northcoast Research analyst Keith Housum raised the price target on Tech Data (NASDAQ: TECD) to $115.00 (from $110.00) while maintaining a Buy rating.
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August 29, 2019 6:02 AM EDT
Tech Data (NASDAQ: TECD) reported Q2 EPS of $2.69, $0.38 better than the analyst estimate of $2.31. Revenue for the quarter came in at $9.09 billion versus the consensus estimate of $8.73 billion.
We are pleased to report that Tech Data delivered an outstanding second quarter performance marked by broad-based improvement across our geographies. A stable demand environment, combined with strong execution by our teams, resulted in a number of key achievements, including: solid sales growth in constant currency, double-digit growth in operating income and earnings per share, positive cash flow, and an industry-leading return on invested capital,... More
