Zacks: Analysts Expect SYNNEX Co. (NYSE:SNX) Will Announce Earnings of $3.61 Per Share

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

According to Zacks, analysts expect that SYNNEX will report full year earnings of $12.61 per share for the current fiscal year, with EPS estimates ranging from $12.60 to $12.61. For the next financial year, analysts forecast that the business 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 research analysts that cover SYNNEX.

SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, September 24th. The business services provider reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm posted $2.57 EPS. The business’s revenue for the quarter was up 28.7% compared to the same quarter last year.

Several research analysts recently issued reports on the stock. Barrington Research reiterated a “buy” rating and issued a $118.00 target price on shares of SYNNEX in a research report on Friday, September 20th. Bank of America assumed coverage on shares of SYNNEX in a research report on Friday, September 6th. They issued a “buy” rating and a $120.00 target price for the company. TheStreet upgraded shares of SYNNEX from a “c+” rating to a “b-” rating in a research report on Friday, September 27th. ValuEngine lowered shares of SYNNEX from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of SYNNEX from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $128.80.

In other SYNNEX news, Director Thomas S. Wurster sold 2,000 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $112.52, for a total value of $225,040.00. Following the completion of the sale, the director now directly owns 14,390 shares of the company’s stock, valued at $1,619,162.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marshall Witt sold 285 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $113.98, for a total transaction of $32,484.30. Following the completion of the sale, the chief financial officer now directly owns 14,438 shares of the company’s stock, valued at $1,645,643.24. The disclosure for this sale can be found here. Insiders sold 23,768 shares of company stock valued at $2,701,367 over the last three months. 3.20% of the stock is currently owned by insiders.

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Large investors have recently modified their holdings of the company. CWM LLC raised its stake in shares of SYNNEX by 187.3% during the third quarter. CWM LLC now owns 227 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 148 shares during the last quarter. CENTRAL TRUST Co grew its holdings in shares of SYNNEX by 290.7% during the second quarter. CENTRAL TRUST Co now owns 336 shares of the business services provider’s stock valued at $32,000 after buying an additional 250 shares during the last quarter. First National Bank of South Miami purchased a new stake in shares of SYNNEX during the second quarter valued at approximately $52,000. FNY Investment Advisers LLC purchased a new stake in shares of SYNNEX during the second quarter valued at approximately $79,000. Finally, Investors Research Corp grew its holdings in shares of SYNNEX by 17.6% during the second quarter. Investors Research Corp now owns 843 shares of the business services provider’s stock valued at $83,000 after buying an additional 126 shares during the last quarter. 78.05% of the stock is owned by hedge funds and other institutional investors.

Shares of SNX traded up $1.38 during mid-day trading on Friday, reaching $120.47. 5,593 shares of the stock traded hands, compared to its average volume of 266,858. The firm has a fifty day moving average price of $116.50 and a 200 day moving average price of $99.88. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 0.93 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 1 year low of $71.82 and a 1 year high of $122.43.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.25%. The ex-dividend date was Thursday, October 10th. SYNNEX’s dividend payout ratio is presently 13.77%.

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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