Synnex (NYSE:SNX) Issues Earnings Results

Synnex (NYSE:SNX) released its quarterly earnings data on Tuesday, January 9th. The business services provider reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.10, Bloomberg Earnings reports. Synnex had a return on equity of 16.43% and a net margin of 1.77%. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the business posted $2.57 EPS. The business’s revenue for the quarter was up 36.7% on a year-over-year basis. Synnex updated its Q1 guidance to $2.06-2.15 EPS.

Shares of Synnex (NYSE SNX) opened at $134.70 on Thursday. The stock has a market capitalization of $5,424.87, a PE ratio of 17.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.42 and a quick ratio of 0.89. Synnex has a 1 year low of $101.48 and a 1 year high of $141.94.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 19th will be given a $0.35 dividend. The ex-dividend date is Thursday, January 18th. This is a boost from Synnex’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.04%. Synnex’s dividend payout ratio is 16.00%.

SNX has been the topic of a number of recent analyst reports. Loop Capital increased their price objective on Synnex from $1.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Needham & Company LLC increased their price objective on Synnex from $145.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research upgraded Synnex from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a report on Thursday, September 21st. ValuEngine upgraded Synnex from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $132.00 price objective on shares of Synnex in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Synnex has an average rating of “Buy” and a consensus price target of $145.38.

In other Synnex news, CEO Kevin M. Murai sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $128.81, for a total transaction of $257,620.00. Following the completion of the sale, the chief executive officer now directly owns 144,125 shares of the company’s stock, valued at approximately $18,564,741.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 300 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $135.52, for a total value of $40,656.00. Following the sale, the chief financial officer now directly owns 21,300 shares of the company’s stock, valued at $2,886,576. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,400 shares of company stock valued at $1,257,257. Insiders own 3.20% of the company’s stock.

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Synnex Company Profile

Synnex Corporation is a business process services company. The Company provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy. The Company operates in two segments: Technology Solutions and Concentrix.

Earnings History for Synnex (NYSE:SNX)

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