Brokerages Expect SYNNEX Co. (NYSE:SNX) to Post $3.61 EPS

Brokerages predict that SYNNEX Co. (NYSE:SNX) will report earnings of $3.61 per share for the current quarter, Zacks reports. Three analysts have made estimates for SYNNEX’s earnings. The lowest EPS estimate is $3.60 and the highest is $3.62. SYNNEX reported earnings per share of $3.65 during the same quarter last year, which suggests a negative year over year growth rate of 1.1%. The company is expected to issue its next earnings report on Thursday, January 9th.

On average, analysts expect that SYNNEX will report full-year earnings of $12.61 per share for the current financial year, with EPS estimates ranging from $12.60 to $12.61. For the next fiscal year, analysts forecast that the firm will report earnings of $13.20 per share, with EPS estimates ranging from $12.95 to $13.38. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for SYNNEX.

SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, September 24th. The business services provider reported $3.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.86 by $0.44. 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 17.96%. SYNNEX’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same period last year, the company posted $2.57 EPS.

A number of research analysts recently weighed in on SNX shares. ValuEngine lowered shares of SYNNEX from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Barrington Research reaffirmed a “buy” rating and issued a $118.00 price target on shares of SYNNEX in a research note on Friday, September 20th. Zacks Investment Research raised 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. Bank of America began coverage on shares of SYNNEX in a research note on Friday, September 6th. They issued a “buy” rating and a $120.00 price target on the stock. Finally, TheStreet upgraded shares of SYNNEX from a “c+” rating to a “b-” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $128.80.

SYNNEX stock traded up $1.38 during midday trading on Friday, reaching $120.47. The company had a trading volume of 5,593 shares, compared to its average volume of 266,858. The company has a market capitalization of $6.19 billion, a P/E ratio of 11.04, a P/E/G ratio of 0.93 and a beta of 1.01. SYNNEX has a 12-month low of $71.82 and a 12-month high of $122.43. The firm’s fifty day simple moving average is $116.50 and its 200-day simple moving average is $99.88. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.57 and a quick ratio of 0.96.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.375 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.50 dividend on an annualized basis and a yield of 1.25%. SYNNEX’s payout ratio is 13.77%.

In other SYNNEX news, Director Thomas S. Wurster sold 2,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $120.83, for a total value of $241,660.00. Also, insider Peter Larocque sold 10,163 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $112.74, for a total transaction of $1,145,776.62. Following the completion of the sale, the insider now owns 25,003 shares of the company’s stock, valued at approximately $2,818,838.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,768 shares of company stock valued at $2,701,367. 3.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SNX. First Trust Advisors LP increased its holdings in shares of SYNNEX by 599.0% during the 3rd quarter. First Trust Advisors LP now owns 367,785 shares of the business services provider’s stock worth $41,523,000 after buying an additional 315,172 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of SYNNEX by 120.9% during the 2nd quarter. Renaissance Technologies LLC now owns 316,428 shares of the business services provider’s stock worth $31,137,000 after buying an additional 173,200 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of SYNNEX during the 2nd quarter worth approximately $12,566,000. Prudential Financial Inc. increased its holdings in shares of SYNNEX by 20.6% during the 2nd quarter. Prudential Financial Inc. now owns 742,424 shares of the business services provider’s stock worth $73,055,000 after buying an additional 126,922 shares during the last quarter. Finally, Clark Capital Management Group Inc. increased its holdings in shares of SYNNEX by 59.3% during the 2nd quarter. Clark Capital Management Group Inc. now owns 334,737 shares of the business services provider’s stock worth $32,938,000 after buying an additional 124,613 shares during the last quarter. Institutional investors and hedge funds own 78.05% of the company’s stock.

SYNNEX Company Profile

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 and Estimates for SYNNEX (NYSE:SNX)

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