SYNNEX (NYSE:SNX) Posts Earnings Results, Beats Estimates By $1.38 EPS

SYNNEX (NYSE:SNX) released its quarterly earnings results on Sunday. The business services provider reported $5.21 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $7.41 billion for the quarter, compared to analyst estimates of $6.60 billion. During the same quarter last year, the company posted $4.26 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis.

Shares of SYNNEX stock traded up $0.54 during trading on Tuesday, hitting $88.23. 35,259 shares of the company were exchanged, compared to its average volume of 523,133. The company has a quick ratio of 1.02, a current ratio of 1.52 and a debt-to-equity ratio of 0.64. SYNNEX has a fifty-two week low of $21.25 and a fifty-two week high of $89.86. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 9.40, a P/E/G ratio of 1.30 and a beta of 1.51. The firm has a 50 day moving average price of $95.99 and a 200 day moving average price of $123.28.

In other SYNNEX news, Director Kevin M. Murai sold 5,324 shares of the business’s stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $143.55, for a total value of $764,260.20. Following the completion of the transaction, the director now directly owns 7,739 shares in the company, valued at approximately $1,110,933.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dwight Steffensen sold 524 shares of the business’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $144.31, for a total value of $75,618.44. Following the completion of the transaction, the director now owns 1,046 shares of the company’s stock, valued at $150,948.26. 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 over the last 90 days. Insiders own 2.80% of the company’s stock.

Several equities research analysts have recently commented on the company. BidaskClub raised SYNNEX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 7th. ValuEngine raised SYNNEX from a “sell” rating to a “hold” rating in a research note on Tuesday, January 5th. Cross Research lowered SYNNEX from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. Raymond James boosted their price target on SYNNEX from $80.00 to $100.00 and gave the stock a “strong-buy” rating in a research note on Tuesday. Finally, Smith Barney Citigroup boosted their price target on SYNNEX from $95.00 to $100.00 in a research note on Tuesday. One 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 given a strong buy rating to the stock. SYNNEX currently has an average rating of “Buy” and an average target price of $118.11.

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.

Recommended Story: Coverage Ratio

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.

Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit