Brokerages Expect Syntel, Inc. (SYNT) Will Post Quarterly Sales of $214.93 Million

Analysts expect that Syntel, Inc. (NASDAQ:SYNT) will report sales of $214.93 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Syntel’s earnings. The lowest sales estimate is $211.90 million and the highest is $219.83 million. Syntel posted sales of $237.89 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 9.7%. The company is expected to announce its next quarterly earnings report on Thursday, February 15th.

According to Zacks, analysts expect that Syntel will report full-year sales of $214.93 million for the current fiscal year, with estimates ranging from $896.00 million to $903.85 million. For the next year, analysts forecast that the company will report sales of $893.44 million per share, with estimates ranging from $880.00 million to $922.84 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Syntel.

Syntel (NASDAQ:SYNT) last released its earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.17. Syntel had a negative return on equity of 137.94% and a net margin of 18.64%. The firm had revenue of $231.34 million during the quarter. During the same period last year, the firm earned $0.63 EPS. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year.

Several brokerages recently weighed in on SYNT. Zacks Investment Research upgraded Syntel from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Tuesday, July 25th. Needham & Company LLC lifted their price target on Syntel from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. They noted that the move was a valuation call. Loop Capital reiterated a “buy” rating and set a $28.00 price target on shares of Syntel in a research report on Wednesday, October 18th. They noted that the move was a valuation call. ValuEngine upgraded Syntel from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Finally, TheStreet upgraded Syntel from a “d+” rating to a “c” rating in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $23.10.

In other news, insider Daniel M. Moore sold 1,080 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $24.19, for a total value of $26,125.20. Following the completion of the sale, the insider now directly owns 22,963 shares in the company, valued at $555,474.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 2,780 shares of company stock valued at $61,689 over the last 90 days. Company insiders own 61.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. AXA purchased a new stake in shares of Syntel in the second quarter valued at approximately $1,046,000. Prudential Financial Inc. purchased a new stake in shares of Syntel in the second quarter valued at approximately $1,082,000. Freestone Capital Holdings LLC increased its position in shares of Syntel by 6.7% in the second quarter. Freestone Capital Holdings LLC now owns 735,111 shares of the information technology services provider’s stock valued at $12,467,000 after buying an additional 46,174 shares in the last quarter. Shell Asset Management Co. purchased a new stake in shares of Syntel in the third quarter valued at approximately $2,459,000. Finally, Clark Estates Inc. NY increased its position in shares of Syntel by 19.9% in the second quarter. Clark Estates Inc. NY now owns 181,000 shares of the information technology services provider’s stock valued at $3,070,000 after buying an additional 30,000 shares in the last quarter. Institutional investors and hedge funds own 35.08% of the company’s stock.

Syntel (SYNT) traded up $0.26 during trading on Wednesday, hitting $25.12. The company had a trading volume of 481,567 shares, compared to its average volume of 736,812. The company has a debt-to-equity ratio of -5.69, a current ratio of 2.07 and a quick ratio of 2.07. Syntel has a 12-month low of $15.82 and a 12-month high of $25.80. The firm has a market capitalization of $2,080.00, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 1.34 and a beta of 1.08.

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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.

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Earnings History and Estimates for Syntel (NASDAQ:SYNT)

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