SYNNEX Co. (NYSE:SNX) Expected to Post Earnings of $3.61 Per Share

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Equities research analysts expect SYNNEX Co. (NYSE:SNX) to announce earnings of $3.61 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for SYNNEX’s earnings, with estimates ranging from $3.60 to $3.62. SYNNEX posted earnings per share of $3.65 in the same quarter last year, which suggests a negative year over year growth rate of 1.1%. The company is scheduled to announce its next quarterly earnings report on Thursday, January 9th.

On average, analysts expect that SYNNEX will report full year earnings of $12.61 per share for the current year, with EPS estimates ranging from $12.60 to $12.61. For the next year, analysts anticipate that the company will post earnings of $13.20 per share, with EPS estimates ranging from $12.95 to $13.38. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for SYNNEX.

SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, September 24th. The business services provider reported $3.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.86 by $0.44. SYNNEX had a net margin of 1.92% and a return on equity of 17.96%. The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $5.69 billion. During the same period in the prior year, the company posted $2.57 EPS. The business’s revenue for the quarter was up 28.7% on a year-over-year basis.

A number of research firms recently weighed in on SNX. TheStreet upgraded SYNNEX from a “c+” rating to a “b-” rating in a report on Friday, September 27th. ValuEngine downgraded SYNNEX from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Barrington Research reaffirmed a “buy” rating and set a $118.00 price objective on shares of SYNNEX in a report on Friday, September 20th. Bank of America began coverage on SYNNEX in a research report on Friday, September 6th. They set a “buy” rating and a $120.00 target price on the stock. Finally, Zacks Investment Research raised SYNNEX from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. SYNNEX has an average rating of “Buy” and a consensus target price of $128.80.

SNX stock opened at $125.77 on Monday. The firm has a 50 day moving average of $120.00 and a 200-day moving average of $101.53. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 0.92 and a beta of 1.01. The company has a current ratio of 1.57, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. SYNNEX has a 12-month low of $72.76 and a 12-month high of $126.99.

In related news, SVP Simon Leung sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $105.66, for a total value of $105,660.00. Following the sale, the senior vice president now owns 17,357 shares of the company’s stock, valued at approximately $1,833,940.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas S. Wurster sold 2,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $123.22, for a total value of $246,440.00. Following the sale, the director now owns 14,390 shares in the company, valued at approximately $1,773,135.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,927 shares of company stock valued at $2,978,801. 3.20% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. increased its position in SYNNEX by 6.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 48,980 shares of the business services provider’s stock worth $4,672,000 after purchasing an additional 2,881 shares during the period. Arizona State Retirement System grew its holdings in SYNNEX by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 30,110 shares of the business services provider’s stock worth $2,963,000 after acquiring an additional 323 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in SYNNEX by 14.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,487 shares of the business services provider’s stock worth $244,000 after acquiring an additional 309 shares during the period. SG Americas Securities LLC raised its position in shares of SYNNEX by 260.4% during the 2nd quarter. SG Americas Securities LLC now owns 20,060 shares of the business services provider’s stock valued at $1,974,000 after acquiring an additional 14,494 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of SYNNEX by 38.3% during the 2nd quarter. First Trust Advisors LP now owns 52,613 shares of the business services provider’s stock valued at $5,177,000 after acquiring an additional 14,568 shares during the last quarter. Institutional investors and hedge funds own 75.53% of the company’s stock.

SYNNEX Company Profile

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

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Earnings History and Estimates for SYNNEX (NYSE:SNX)

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