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 the Thomson Reuters’ consensus estimate 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 company had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same period in the previous year, the firm posted $4.26 EPS. SYNNEX’s revenue was up 12.7% compared to the same quarter last year.
Shares of SNX stock traded up $0.71 during midday trading on Tuesday, hitting $88.40. The company had a trading volume of 33,834 shares, compared to its average volume of 523,133. The company’s 50 day simple moving average is $95.99 and its 200 day simple moving average is $123.28. SYNNEX has a 52-week low of $21.25 and a 52-week high of $89.86. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 1.30 and a beta of 1.51. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 1.02.
A number of research analysts have weighed in on the stock. Cross Research lowered shares of SYNNEX from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. Zacks Investment Research lowered shares of SYNNEX from a “hold” rating to a “sell” rating and set a $80.00 target price on the stock. in a research note on Wednesday, December 2nd. Barrington Research decreased their target price on shares of SYNNEX from $160.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 9th. Raymond James raised their target price on shares of SYNNEX from $80.00 to $100.00 and gave the stock a “strong-buy” rating in a research note on Tuesday. Finally, ValuEngine raised shares of SYNNEX from a “sell” rating to a “hold” rating in a research note on Tuesday, January 5th. 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 stock. The company currently has a consensus rating of “Buy” and an average price target of $118.11.
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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