SYNNEX (NYSE:SNX) Announces Earnings Results

SYNNEX (NYSE:SNX) issued its earnings results on Thursday. The business services provider reported $4.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.61 by $0.65, Briefing.com reports. SYNNEX had a net margin of 1.92% and a return on equity of 17.96%. The firm had revenue of $6.58 billion for the quarter, compared to analysts’ expectations of $5.99 billion. During the same quarter last year, the company posted $3.65 earnings per share. SYNNEX’s revenue was up 18.7% on a year-over-year basis. SYNNEX updated its Q1 2020
After-Hours guidance to 3.03-3.22 EPS and its Q1 guidance to $3.03-3.22 EPS.

Shares of NYSE:SNX opened at $128.84 on Friday. The firm’s 50 day moving average is $126.56 and its two-hundred day moving average is $107.64. SYNNEX has a 52 week low of $78.55 and a 52 week high of $130.96. The firm has a market capitalization of $6.48 billion, a P/E ratio of 11.83, a PEG ratio of 0.93 and a beta of 1.03. The company has a current ratio of 1.57, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

A number of brokerages have issued reports on SNX. Barrington Research reissued a “buy” rating and issued a $118.00 target price on shares of SYNNEX in a report on Friday, September 20th. Zacks Investment Research upgraded shares of SYNNEX from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research note on Tuesday, October 1st. Stifel Nicolaus raised their price target on shares of SYNNEX from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday. ValuEngine lowered shares of SYNNEX from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Finally, TheStreet upgraded shares of SYNNEX from a “c+” rating to a “b-” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $132.33.

In related news, Director Andrea M. Zulberti sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $129.71, for a total transaction of $64,855.00. Following the transaction, the director now owns 13,265 shares in the company, valued at $1,720,603.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin M. Murai sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $114.42, for a total transaction of $286,050.00. Following the transaction, the director now owns 30,927 shares in the company, valued at approximately $3,538,667.34. The disclosure for this sale can be found here. Insiders sold 18,364 shares of company stock worth $2,245,328 in the last 90 days. 3.20% of the stock is owned by company 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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