SYNNEX (NYSE:SNX) released its quarterly earnings data on Tuesday. The business services provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.07 by $0.07, MarketWatch Earnings reports. The company had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $14.22 billion. SYNNEX had a return on equity of 19.97% and a net margin of 2.15%. SYNNEX’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same period last year, the company earned $3.33 EPS. SYNNEX updated its Q4 guidance to $2.50-2.80 EPS and its Q4 2021 guidance to $2.500-$2.800 EPS.
Shares of NYSE SNX opened at $105.53 on Wednesday. SYNNEX has a twelve month low of $52.65 and a twelve month high of $130.93. The company has a current ratio of 1.70, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $121.03 and a 200-day simple moving average of $120.42. The stock has a market capitalization of $5.48 billion, a PE ratio of 10.34, a PEG ratio of 1.40 and a beta of 1.72.
In other news, Director Dwight Steffensen sold 300 shares of the business’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $113.78, for a total value of $34,134.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin M. Murai sold 4,275 shares of the business’s stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $114.81, for a total value of $490,812.75. Following the completion of the sale, the director now directly owns 8,859 shares of the company’s stock, valued at $1,017,101.79. The disclosure for this sale can be found here. Insiders sold 18,898 shares of company stock valued at $2,295,921 over the last ninety days. Insiders own 3.00% of the company’s stock.
A number of research firms have issued reports on SNX. Raymond James boosted their price target on SYNNEX from $125.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Friday, June 25th. Barrington Research boosted their target price on SYNNEX from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, June 28th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $131.00.
SYNNEX Corp. engages in the provision of distribution, logistics and integration services for the technology industry. It operates through the following segments: Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals, IT systems including data center server and storage solutions, system components, software, networking equipment, consumer electronics, and complementary products.
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