Synnex Corporation (NYSE:SNX) – Research analysts at SunTrust Banks issued their FY2017 earnings per share estimates for shares of Synnex in a research report issued to clients and investors on Thursday. SunTrust Banks analyst F. Atkins expects that the business services provider will post earnings of $8.77 per share for the year. SunTrust Banks has a “Buy” rating and a $145.00 price target on the stock. SunTrust Banks also issued estimates for Synnex’s Q4 2017 earnings at $2.71 EPS, Q1 2018 earnings at $2.10 EPS, Q2 2018 earnings at $2.36 EPS, Q3 2018 earnings at $2.44 EPS, Q4 2018 earnings at $2.78 EPS, FY2018 earnings at $9.68 EPS and FY2019 earnings at $9.80 EPS.
A number of other equities research analysts have also recently weighed in on SNX. BidaskClub cut shares of Synnex from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Zacks Investment Research cut shares of Synnex from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Loop Capital started coverage on shares of Synnex in a research report on Thursday, August 24th. They set a “buy” rating and a $140.00 price target for the company. ValuEngine lowered shares of Synnex from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $135.00 price objective on shares of Synnex in a research note on Monday, September 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $136.22.
Shares of Synnex (NYSE:SNX) opened at $132.60 on Monday. Synnex has a 12-month low of $101.48 and a 12-month high of $137.80. The stock has a market cap of $5,252.62, a PE ratio of 15.23 and a beta of 1.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.80 and a current ratio of 1.61.
Synnex (NYSE:SNX) last released its quarterly earnings data on Monday, September 25th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.19. Synnex had a net margin of 1.89% and a return on equity of 16.58%. The firm had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same period last year, the business earned $1.73 earnings per share. Synnex’s revenue was up 16.5% compared to the same quarter last year.
In other Synnex news, Director Thomas S. Wurster sold 300 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $134.05, for a total value of $40,215.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Dennis Polk sold 1,500 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $126.91, for a total transaction of $190,365.00. Following the completion of the transaction, the chief operating officer now directly owns 22,468 shares in the company, valued at $2,851,413.88. The disclosure for this sale can be found here. Insiders sold a total of 10,721 shares of company stock worth $1,402,155 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Synnex during the 3rd quarter worth $889,000. California Public Employees Retirement System boosted its position in shares of Synnex by 5.7% during the 3rd quarter. California Public Employees Retirement System now owns 58,110 shares of the business services provider’s stock worth $7,351,000 after purchasing an additional 3,110 shares in the last quarter. Affinity Wealth Management boosted its position in shares of Synnex by 72.4% during the 3rd quarter. Affinity Wealth Management now owns 3,222 shares of the business services provider’s stock worth $408,000 after purchasing an additional 1,353 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Synnex during the 3rd quarter worth $484,000. Finally, Invictus RG boosted its position in shares of Synnex by 30.6% during the 3rd quarter. Invictus RG now owns 2,994 shares of the business services provider’s stock worth $379,000 after purchasing an additional 701 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.
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Synnex Company Profile
Synnex Corporation is a business process services company. The Company provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy. The Company operates in two segments: Technology Solutions and Concentrix.
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