SYNNEX Co. (SNX) Expected to Announce Quarterly Sales of $5.33 Billion

Wall Street brokerages expect SYNNEX Co. (NYSE:SNX) to announce $5.33 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for SYNNEX’s earnings, with estimates ranging from $5.30 billion to $5.39 billion. SYNNEX posted sales of $5.31 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 0.4%. The company is expected to issue its next quarterly earnings report on Tuesday, January 8th.

According to Zacks, analysts expect that SYNNEX will report full-year sales of $19.76 billion for the current financial year, with estimates ranging from $19.73 billion to $19.82 billion. For the next year, analysts expect that the company will report sales of $21.42 billion, with estimates ranging from $20.95 billion to $21.98 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for SYNNEX.

SYNNEX (NYSE:SNX) last issued its earnings results on Wednesday, October 3rd. The business services provider reported $2.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.46 by $0.11. SYNNEX had a net margin of 1.41% and a return on equity of 17.16%. The company had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.88 billion. During the same quarter last year, the company posted $2.16 earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis.



SNX has been the topic of several research reports. Zacks Investment Research cut shares of SYNNEX from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. SunTrust Banks dropped their target price on shares of SYNNEX to $100.00 and set a “buy” rating on the stock in a report on Thursday, October 4th. TheStreet cut shares of SYNNEX from a “b-” rating to a “c+” rating in a report on Friday, October 12th. Stifel Nicolaus dropped their target price on shares of SYNNEX from $130.00 to $114.00 and set a “buy” rating on the stock in a report on Thursday, October 4th. Finally, Needham & Company LLC upgraded shares of SYNNEX from a “buy” rating to a “strong-buy” rating and set a $135.00 target price on the stock in a report on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. SYNNEX currently has a consensus rating of “Buy” and a consensus price target of $127.00.

In other SYNNEX news, CEO Dennis Polk sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $95.68, for a total value of $191,360.00. Following the transaction, the chief executive officer now directly owns 26,494 shares in the company, valued at $2,534,945.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Star Developments Ltd Silver purchased 6,900 shares of the firm’s stock in a transaction on Wednesday, October 24th. The stock was acquired at an average price of $78.07 per share, for a total transaction of $538,683.00. Following the completion of the transaction, the insider now directly owns 5,233,980 shares of the company’s stock, valued at approximately $408,616,818.60. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 367,011 shares of company stock worth $29,238,828 and sold 7,800 shares worth $720,206. 3.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNX. Townsend & Associates Inc bought a new position in SYNNEX in the second quarter worth approximately $108,000. Cornerstone Wealth Management LLC bought a new position in SYNNEX in the second quarter worth approximately $131,000. Point72 Hong Kong Ltd bought a new position in SYNNEX in the second quarter worth approximately $136,000. Nomura Holdings Inc. bought a new position in SYNNEX in the second quarter worth approximately $210,000. Finally, First Hawaiian Bank bought a new position in SYNNEX in the third quarter worth approximately $221,000. Institutional investors and hedge funds own 71.66% of the company’s stock.

SNX stock traded down $1.25 on Tuesday, hitting $77.21. The company had a trading volume of 439,650 shares, compared to its average volume of 775,036. SYNNEX has a 12-month low of $72.83 and a 12-month high of $141.94. The company has a current ratio of 1.51, a quick ratio of 0.94 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $3.95 billion, a P/E ratio of 7.81 and a beta of 0.76.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, October 12th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 11th. This represents a $1.40 annualized dividend and a yield of 1.81%. SYNNEX’s payout ratio is presently 15.80%.

SYNNEX Company Profile

SYNNEX Corporation provides business process services in North and South America, the Asia-Pacific, Europe, and internationally. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center server and storage solutions; system components; software; networking/communications/security equipment; consumer electronics; and complementary products.

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Earnings History and Estimates for SYNNEX (NYSE:SNX)

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