SYNNEX (NYSE:SNX) Posts Earnings Results, Beats Expectations By $1.38 EPS

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

Shares of SNX traded up $1.28 during trading hours on Tuesday, hitting $88.97. 28,948 shares of the stock were exchanged, compared to its average volume of 523,133. SYNNEX has a fifty-two week low of $21.25 and a fifty-two week high of $89.86. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 1.02. The business has a 50-day moving average of $95.99 and a 200-day moving average of $123.28. The firm has a market capitalization of $4.59 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 1.30 and a beta of 1.51.

In other news, insider Michael Urban sold 242 shares of the stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $134.10, for a total value of $32,452.20. Following the completion of the sale, the insider now owns 9,618 shares in the company, valued at $1,289,773.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kevin M. Murai sold 5,324 shares of the stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $143.55, for a total transaction of $764,260.20. Following the completion of the sale, the director now owns 7,739 shares of the company’s stock, valued at approximately $1,110,933.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,153 shares of company stock valued at $3,352,059. 2.80% of the stock is currently owned by corporate insiders.

A number of analysts have recently weighed in on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on shares of SYNNEX from $95.00 to $100.00 in a report on Tuesday. ValuEngine upgraded shares of SYNNEX from a “sell” rating to a “hold” rating in a research report on Tuesday, January 5th. Cross Research cut shares of SYNNEX from a “buy” rating to a “hold” rating in a research report on Thursday, January 7th. Loop Capital upped their price objective on shares of SYNNEX from $140.00 to $170.00 in a research report on Wednesday, September 30th. Finally, Smith Barney Citigroup upped their price objective on shares of SYNNEX from $95.00 to $100.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $118.11.

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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