This technology company walloped earnings estimates; analysts have been revising next year’s earnings upward for the past couple of months; and Zack’s has given the stock a Value Score of ‘A’ and a Zacks Rank #2 (Buy).
Tech Data Corp. (TECD)
from Weiss Stock Ratings Heat Maps
Tech Data Corp. (TECD) shares recently surged after it reported better-than-expected quarterly results. TECD said it had a net profit of $51.3 million in the first quarter. Revenue was $5.89 billion, beating analyst expectations of $5.71 billion. Adjusted earnings per share came to 80 cents, beating analyst estimates of 72 cents.
Tech Data is a member of the Best-Value Stocks Heat Map, rated a Buy. The company engages in the wholesale distribution of technology products. It distributes and markets broad-line products, such as notebooks, tablets, desktop systems, printers, supplies and components.
In its outlook, the company said it expects a low- to mid-single-digit year-over-year sales decline in the Americas, and mid-single digit sales growth in Europe, in local currency. TECD said the outlook takes into account the loss of about $70 million of net sales due to the company’s exit from Chile, Peru and Uruguay.
A day before the earnings, TECD said it had entered into an agreement to acquire some assets of Signature Technology Group Inc., a provider of data center and professional services throughout North America.
TECD is a member of the Best-Value Stocks Heat Map and is rated a buy.
Mike Burnick, Weiss Stock Ratings Heat Maps, published by Money and Markets, a Division of Weiss Research, Inc., www.weissresearchissues.com/weiss-stock-ratings-heat-maps, 1-800-291-8545, May 28, 2015