SYNNEX (NYSE:SNX) Releases Earnings Results


Share on StockTwits

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.

In related news, insider Michael Urban sold 242 shares of SYNNEX stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $134.10, for a total value of $32,452.20. Following the sale, the insider now directly owns 9,618 shares in the company, valued at $1,289,773.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kevin M. Murai sold 2,213 shares of SYNNEX stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $133.12, for a total value of $294,594.56. Following the completion of the sale, the director now owns 7,739 shares in the company, valued at $1,030,215.68. The disclosure for this sale can be found here. Insiders sold a total of 23,153 shares of company stock worth $3,352,059 over the last quarter. Company insiders own 2.80% of the company’s stock.

About SYNNEX

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.

Featured Article: S&P/ASX 200 Index

Earnings History for SYNNEX (NYSE:SNX)

Receive News & Ratings for SYNNEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYNNEX and related companies with MarketBeat.com's FREE daily email newsletter.