SYNNEX (NYSE:SNX) Posts Earnings Results, Beats Estimates By $1.38 EPS


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SYNNEX (NYSE:SNX) posted its quarterly earnings data on Sunday. The business services provider reported $5.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.83 by $1.38, Briefing.com reports. SYNNEX had a return on equity of 16.78% and a net margin of 2.06%. The business had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $6.60 billion. During the same quarter in the prior year, the company earned $4.26 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year.

NYSE SNX traded up $0.54 on Tuesday, reaching $88.23. 35,259 shares of the stock traded hands, compared to its average volume of 523,133. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.52. The company has a fifty day moving average price of $95.99 and a 200-day moving average price of $123.28. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 1.30 and a beta of 1.51. SYNNEX has a 12 month low of $21.25 and a 12 month high of $89.86.

Several equities research analysts recently commented on SNX shares. TheStreet cut SYNNEX from a “b-” rating to a “c” rating in a research report on Tuesday, December 22nd. Stifel Nicolaus downgraded SYNNEX from a “buy” rating to a “hold” rating and lowered their target price for the company from $156.00 to $85.00 in a report on Tuesday, December 8th. Loop Capital raised their price target on SYNNEX from $140.00 to $170.00 in a report on Wednesday, September 30th. Barrington Research dropped their target price on SYNNEX from $160.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, December 9th. Finally, Smith Barney Citigroup lifted their target price on SYNNEX from $95.00 to $100.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $118.11.

In related news, insider Michael Urban sold 350 shares of the stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $145.76, for a total value of $51,016.00. Following the completion of the sale, the insider now owns 10,610 shares of the company’s stock, valued at $1,546,513.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kevin M. Murai sold 4,600 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $144.62, for a total value of $665,252.00. Following the completion of the sale, the director now directly owns 8,358 shares of the company’s stock, valued at approximately $1,208,733.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,153 shares of company stock valued at $3,352,059. 2.80% of the stock is currently owned by corporate insiders.

SYNNEX Company Profile

SYNNEX Corporation provides business process services in the United States and internationally. 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 for SYNNEX (NYSE:SNX)

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