Syntel, Inc. (SYNT) Updates FY17 Earnings Guidance

Syntel, Inc. (NASDAQ:SYNT) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.81-1.88 for the period, compared to the Thomson Reuters consensus estimate of $1.72. The company issued revenue guidance of $890-902 million, compared to the consensus revenue estimate of $883.41 million.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Syntel from a hold rating to a buy rating and set a $27.00 price target on the stock in a research note on Friday, October 20th. Cowen and Company restated a hold rating and issued a $20.00 price target on shares of Syntel in a research note on Thursday, October 19th. TheStreet raised Syntel from a d+ rating to a c rating in a report on Tuesday, October 17th. Needham & Company LLC upped their price objective on Syntel from $23.00 to $28.00 and gave the company a buy rating in a report on Wednesday, October 18th. They noted that the move was a valuation call. Finally, Loop Capital reaffirmed a buy rating and issued a $28.00 price objective on shares of Syntel in a report on Wednesday, October 18th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $23.10.

Shares of Syntel, Inc. (SYNT) opened at 23.36 on Friday. The company’s 50 day moving average price is $20.00 and its 200 day moving average price is $18.29. Syntel, Inc. has a 12 month low of $15.82 and a 12 month high of $25.80. The company has a market capitalization of $1.95 billion, a P/E ratio of 11.39 and a beta of 1.06.

Syntel (NASDAQ:SYNT) last issued its quarterly earnings data on Tuesday, October 17th. The information technology services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.17. The company had revenue of $231.34 million during the quarter. Syntel had a net margin of 18.64% and a negative return on equity of 119.25%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. Analysts expect that Syntel, Inc. will post $1.87 EPS for the current fiscal year.

Syntel declared that its board has initiated a stock buyback program on Thursday, July 20th that permits the company to repurchase $60.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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Syntel Company Profile

Syntel, Inc (Syntel) is a global provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. The Company operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom.

Earnings History and Estimates for Syntel (NASDAQ:SYNT)

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