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

SYNNEX (NYSE:SNX) issued its quarterly earnings data on Sunday. The business services provider reported $5.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.83 by $1.38, reports. The firm had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $6.60 billion. SYNNEX had a return on equity of 16.78% and a net margin of 2.06%. SYNNEX’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.26 earnings per share.

SYNNEX stock opened at $87.69 on Tuesday. The stock has a fifty day moving average price of $95.99 and a 200 day moving average price of $123.28. SYNNEX has a 52 week low of $21.25 and a 52 week high of $89.86. The company has a current ratio of 1.52, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $4.52 billion, a P/E ratio of 9.26, a PEG ratio of 1.30 and a beta of 1.51.

A number of equities analysts have recently weighed in on SNX shares. TheStreet cut SYNNEX from a “b-” rating to a “c” rating in a report on Tuesday, December 22nd. Barrington Research cut their price target on SYNNEX from $160.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, December 9th. ValuEngine raised SYNNEX from a “sell” rating to a “hold” rating in a report on Tuesday, January 5th. Zacks Investment Research lowered SYNNEX from a “hold” rating to a “sell” rating and set a $80.00 target price for the company. in a research note on Wednesday, December 2nd. Finally, Raymond James reiterated a “buy” rating on shares of SYNNEX in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $131.86.

In other SYNNEX news, Director Kevin M. Murai sold 4,600 shares of the business’s stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $148.96, for a total transaction of $685,216.00. Following the completion of the sale, the director now owns 10,114 shares of the company’s stock, valued at $1,506,581.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Urban sold 350 shares of the business’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $145.76, for a total value of $51,016.00. Following the sale, the insider now directly owns 10,610 shares of the company’s stock, valued at approximately $1,546,513.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,153 shares of company stock valued at $3,352,059. 2.80% of the stock is owned by company insiders.

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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Earnings History for SYNNEX (NYSE:SNX)

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