SYNNEX (NYSE:SNX) Issues Quarterly Earnings Results

SYNNEX (NYSE:SNX) posted its quarterly earnings results 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. The firm had revenue of $7.41 billion for the quarter, compared to analyst estimates of $6.60 billion. SYNNEX had a net margin of 2.06% and a return on equity of 16.78%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.26 earnings per share.

SYNNEX stock traded up $0.71 during midday trading on Tuesday, reaching $88.40. The stock had a trading volume of 33,834 shares, compared to its average volume of 523,133. The firm’s fifty day simple moving average is $95.99 and its two-hundred day simple moving average is $123.28. SYNNEX has a twelve month low of $21.25 and a twelve month high of $89.86. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 1.02. The firm 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.

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SNX has been the topic of several recent research reports. Stifel Nicolaus lowered shares of SYNNEX from a “buy” rating to a “hold” rating and decreased their price target for the stock from $156.00 to $85.00 in a research report on Tuesday, December 8th. Loop Capital lifted their price target on shares of SYNNEX from $140.00 to $170.00 in a research report on Wednesday, September 30th. Cross Research lowered shares of SYNNEX from a “buy” rating to a “hold” rating in a research report on Thursday, January 7th. TheStreet lowered shares of SYNNEX from a “b-” rating to a “c” rating in a research report on Tuesday, December 22nd. Finally, BidaskClub upgraded shares of SYNNEX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. SYNNEX currently has a consensus 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 transaction of $51,016.00. Following the completion of the sale, the insider now owns 10,610 shares in the company, valued at approximately $1,546,513.60. The sale was disclosed in a 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 sale, the director now 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. Insiders have sold a total of 23,153 shares of company stock valued at $3,352,059 in the last three months. Company insiders own 2.80% of the company’s stock.

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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