SYNNEX (NYSE:SNX) Posts Earnings Results, Beats Estimates By $0.44 EPS

SYNNEX (NYSE:SNX) issued its quarterly earnings results on Tuesday. The business services provider reported $3.30 EPS for the quarter, topping the Zacks’ consensus estimate of $2.86 by $0.44, Briefing.com reports. The firm had revenue of $6.20 billion for the quarter, compared to analyst estimates of $5.69 billion. SYNNEX had a net margin of 1.92% and a return on equity of 18.10%. The business’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.57 EPS. SYNNEX updated its Q4 2019 guidance to $3.50-3.70 EPS and its Q4 guidance to $3.50-$3.70 EPS.

SNX stock opened at $113.67 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.57. SYNNEX has a 52 week low of $71.82 and a 52 week high of $114.91. The firm’s fifty day moving average is $89.14 and its 200 day moving average is $95.70. The firm has a market cap of $4.90 billion, a P/E ratio of 10.44, a P/E/G ratio of 0.77 and a beta of 0.99.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, October 10th. SYNNEX’s dividend payout ratio is currently 13.77%.

SNX has been the topic of a number of research analyst reports. Bank of America initiated coverage on shares of SYNNEX in a report on Friday, September 6th. They issued a “buy” rating and a $120.00 price target on the stock. Zacks Investment Research raised shares of SYNNEX from a “sell” rating to a “hold” rating in a report on Tuesday. Barrington Research reissued a “buy” rating and issued a $118.00 price target on shares of SYNNEX in a report on Friday, September 20th. Finally, ValuEngine raised shares of SYNNEX from a “strong sell” rating to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $122.25.

In related news, CFO Marshall Witt sold 600 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $101.16, for a total transaction of $60,696.00. Following the transaction, the chief financial officer now owns 15,293 shares of the company’s stock, valued at approximately $1,547,039.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Simon Leung sold 1,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $105.66, for a total transaction of $105,660.00. Following the sale, the senior vice president now directly owns 17,357 shares of the company’s stock, valued at approximately $1,833,940.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,536 shares of company stock worth $456,842. 3.20% of the stock is owned by insiders.

About SYNNEX

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 for SYNNEX (NYSE:SNX)

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