Syneos Health (NASDAQ:SYNH) Releases FY 2020 Pre-Market Earnings Guidance

Syneos Health (NASDAQ:SYNH) issued an update on its FY 2020
Pre-Market earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.33-3.46 for the period, compared to the Thomson Reuters consensus estimate of $3.24. The company issued revenue guidance of $4.37-4.44 billion, compared to the consensus revenue estimate of $4.52 billion.Syneos Health also updated its FY 2021
Pre-Market guidance to EPS.

NASDAQ SYNH opened at $53.37 on Thursday. The company has a 50 day simple moving average of $57.13 and a 200-day simple moving average of $57.62. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 29.98 and a beta of 1.74. Syneos Health has a 52-week low of $30.02 and a 52-week high of $74.25.

Syneos Health (NASDAQ:SYNH) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.20. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Syneos Health had a net margin of 4.10% and a return on equity of 9.63%. The firm’s revenue was down 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. On average, analysts predict that Syneos Health will post 2.76 EPS for the current year.

Several equities analysts recently weighed in on the stock. Mizuho raised shares of Syneos Health from a neutral rating to a buy rating and raised their price objective for the company from $63.00 to $65.00 in a research report on Tuesday, October 6th. Truist Financial raised their price objective on shares of Syneos Health from $74.00 to $80.00 and gave the company a buy rating in a research report on Wednesday, August 12th. BidaskClub lowered shares of Syneos Health from a strong-buy rating to a buy rating in a research report on Tuesday. Citigroup raised their price objective on shares of Syneos Health from $70.00 to $75.00 and gave the company a buy rating in a research report on Friday, August 7th. Finally, SunTrust Banks raised their price objective on shares of Syneos Health from $66.00 to $74.00 and gave the company a buy rating in a research report on Thursday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $68.00.

In other Syneos Health news, CEO Alistair Macdonald sold 10,289 shares of Syneos Health stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $65.07, for a total transaction of $669,505.23. Also, Director Thomas H. Lee Advisors, Llc sold 732 shares of Syneos Health stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $59.26, for a total transaction of $43,378.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,777,302 shares of company stock worth $223,902,696. 0.44% of the stock is currently owned by corporate insiders.

Syneos Health Company Profile

Syneos Health, Inc operates as an integrated biopharmaceutical solutions company in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. It operates through two segments, Clinical Solutions and Commercial Solutions. The Clinical Solutions segment offers various clinical development services spanning Phase I to Phase IV, including full-service global studies, as well as clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.

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Earnings History and Estimates for Syneos Health (NASDAQ:SYNH)

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