Somewhat Positive Media Coverage Somewhat Unlikely to Affect Synnex (SNX) Stock Price

News headlines about Synnex (NYSE:SNX) have trended somewhat positive on Thursday, according to Accern. The research firm identifies negative and positive news coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Synnex earned a media sentiment score of 0.10 on Accern’s scale. Accern also gave media stories about the business services provider an impact score of 46.7786547560328 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.

These are some of the news articles that may have impacted Accern’s scoring:

Several equities analysts have recently weighed in on SNX shares. Loop Capital boosted their target price on Synnex from $1.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Needham & Company LLC boosted their target price on Synnex from $145.00 to $151.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. SunTrust Banks started coverage on Synnex in a research report on Thursday, December 7th. They set a “buy” rating and a $145.00 target price on the stock. Pivotal Research raised Synnex from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Wednesday, January 31st. Finally, Zacks Investment Research raised Synnex from a “hold” rating to a “buy” rating and set a $153.00 target price on the stock in a research report on Saturday, January 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $140.63.

SNX traded down $1.78 during trading hours on Thursday, reaching $97.87. 439,379 shares of the company’s stock traded hands, compared to its average volume of 306,721. Synnex has a 52-week low of $96.01 and a 52-week high of $141.94. The company has a quick ratio of 0.89, a current ratio of 1.48 and a debt-to-equity ratio of 0.48. The stock has a market cap of $3,928.75, a P/E ratio of 11.05 and a beta of 0.97.

Synnex (NYSE:SNX) last posted its quarterly earnings data on Thursday, March 29th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.03. Synnex had a return on equity of 16.52% and a net margin of 1.46%. The company had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.47 billion. During the same quarter in the previous year, the business earned $1.82 EPS. Synnex’s revenue was up 29.3% compared to the same quarter last year. equities analysts anticipate that Synnex will post 10.26 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 13th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Thursday, April 12th. Synnex’s payout ratio is currently 15.80%.

In related news, SVP Simon Leung sold 1,000 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $122.99, for a total transaction of $122,990.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Miau sold 500 shares of the business’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $97.95, for a total value of $48,975.00. Following the transaction, the director now owns 375,357 shares of the company’s stock, valued at approximately $36,766,218.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,271,900 shares of company stock valued at $165,625,452. 3.20% of the stock is owned by company insiders.

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About Synnex

SYNNEX Corporation provides business process services in North and South America, the Asia-Pacific, Europe, and internationally. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center server and storage solutions; system components; software; networking/communications/security equipment; consumer electronics; and complementary products.

Insider Buying and Selling by Quarter for Synnex (NYSE:SNX)

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