SYNNEX (NYSE:SNX) Announces Earnings Results, Beats Expectations By $0.18 EPS

SYNNEX (NYSE:SNX) announced its earnings results on Tuesday. The business services provider reported $3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.18, MarketWatch Earnings reports. SYNNEX had a net margin of 2.11% and a return on equity of 18.84%. The business had revenue of $5.26 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the business posted $2.84 earnings per share. SYNNEX’s revenue for the quarter was up .3% on a year-over-year basis.

SNX opened at $81.06 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.62 and a quick ratio of 1.06. The stock’s 50 day simple moving average is $119.47 and its 200 day simple moving average is $121.11. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.51 and a beta of 1.05. SYNNEX has a 1 year low of $52.06 and a 1 year high of $153.07.

In other SYNNEX news, Director Andrea M. Zulberti sold 500 shares of the stock in a transaction 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 completion of the sale, the director now owns 13,265 shares of the company’s stock, valued at approximately $1,720,603.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Larocque sold 17,330 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $150.89, for a total transaction of $2,614,923.70. Following the completion of the sale, the insider now directly owns 18,363 shares in the company, valued at approximately $2,770,793.07. The disclosure for this sale can be found here. Insiders sold a total of 38,452 shares of company stock worth $5,549,579 over the last ninety days. Insiders own 2.80% of the company’s stock.

SNX has been the topic of several research reports. Barrington Research raised their price objective on shares of SYNNEX from $118.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. They noted that the move was a valuation call. Zacks Investment Research raised shares of SYNNEX from a “hold” rating to a “strong-buy” rating and set a $153.00 price target on the stock in a research note on Monday, January 13th. ValuEngine downgraded shares of SYNNEX from a “sell” rating to a “strong sell” rating in a research note on Friday, March 6th. Stifel Nicolaus boosted their price objective on shares of SYNNEX from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Citigroup upped their price objective on shares of SYNNEX from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $140.00.

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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