SYNNEX Co. (NYSE:SNX) Expected to Post Quarterly Sales of $4.71 Billion

Wall Street brokerages forecast that SYNNEX Co. (NYSE:SNX) will post sales of $4.71 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for SYNNEX’s earnings, with the highest sales estimate coming in at $4.78 billion and the lowest estimate coming in at $4.65 billion. SYNNEX posted sales of $5.26 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 10.5%. The business is scheduled to issue its next quarterly earnings results on Tuesday, March 23rd.

According to Zacks, analysts expect that SYNNEX will report full year sales of $20.10 billion for the current year, with estimates ranging from $19.68 billion to $20.48 billion. For the next year, analysts anticipate that the company will post sales of $19.86 billion, with estimates ranging from $19.15 billion to $21.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover SYNNEX.

SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Sunday, January 10th. The business services provider reported $5.21 EPS for the quarter, topping the Zacks’ consensus estimate of $3.83 by $1.38. SYNNEX had a return on equity of 17.47% and a net margin of 2.14%. The business had revenue of $7.41 billion for the quarter, compared to analyst estimates of $6.60 billion. During the same period last year, the company posted $4.26 earnings per share. SYNNEX’s quarterly revenue was up 12.7% compared to the same quarter last year.

Several equities analysts have issued reports on SNX shares. Cross Research lowered SYNNEX from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their target price on SYNNEX from $95.00 to $100.00 in a research note on Tuesday, January 12th. Barrington Research increased their price objective on SYNNEX from $90.00 to $102.00 and gave the company an “outperform” rating in a report on Wednesday, January 13th. Smith Barney Citigroup increased their price objective on SYNNEX from $95.00 to $100.00 in a research report on Tuesday, January 12th. Finally, TheStreet downgraded SYNNEX from a “b-” rating to a “c” rating in a research note on Tuesday, December 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. SYNNEX presently has an average rating of “Buy” and an average price target of $112.56.

In other news, Director Dwight Steffensen sold 500 shares of the business’s stock in a transaction that occurred on Thursday, January 21st. The shares were sold at an average price of $89.99, for a total value of $44,995.00. Following the completion of the sale, the director now directly owns 546 shares in the company, valued at approximately $49,134.54. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peter Larocque sold 2,259 shares of the business’s stock in a transaction on Tuesday, January 19th. The shares were sold at an average price of $88.92, for a total transaction of $200,870.28. Following the transaction, the insider now directly owns 16,496 shares in the company, valued at $1,466,824.32. The disclosure for this sale can be found here. Insiders sold 6,176 shares of company stock worth $542,256 over the last ninety days. Insiders own 2.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Ellevest Inc. bought a new position in shares of SYNNEX during the 4th quarter valued at approximately $29,000. NEXT Financial Group Inc acquired a new position in SYNNEX in the third quarter valued at approximately $30,000. Banque Cantonale Vaudoise purchased a new stake in shares of SYNNEX during the third quarter worth approximately $33,000. Signaturefd LLC boosted its stake in SYNNEX by 35.5% during the third quarter. Signaturefd LLC now owns 286 shares of the business services provider’s stock worth $40,000 after buying an additional 75 shares during the last quarter. Finally, RPG Investment Advisory LLC acquired a new position in shares of SYNNEX in the 4th quarter valued at $41,000. 75.85% of the stock is owned by institutional investors.

SNX traded down $1.22 during midday trading on Thursday, hitting $86.99. 4,255 shares of the company traded hands, compared to its average volume of 365,108. The company has a quick ratio of 1.02, a current ratio of 1.56 and a debt-to-equity ratio of 0.60. SYNNEX has a 52 week low of $21.25 and a 52 week high of $91.62. The company’s 50-day moving average is $87.37 and its 200 day moving average is $116.14. The firm has a market capitalization of $4.49 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 0.98 and a beta of 1.60.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 29th. Stockholders of record on Friday, January 22nd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, January 21st. SYNNEX’s dividend payout ratio (DPR) is presently 5.85%.

SYNNEX Company Profile

SYNNEX Corporation provides business process services in the United States and internationally. The company distributes peripherals; and information technology systems, including system components, software, networking, communications and security equipment, consumer electronics, and complementary products, as well as designs and integrates data center equipment.

Recommended Story: Are sell-side analysts objective?

Get a free copy of the Zacks research report on SYNNEX (SNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for SYNNEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYNNEX and related companies with MarketBeat.com's FREE daily email newsletter.