Synnex Corporation (SNX) to Post FY2017 Earnings of $8.77 Per Share, SunTrust Banks Forecasts

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.

COPYRIGHT VIOLATION WARNING: “Synnex Corporation (SNX) to Post FY2017 Earnings of $8.77 Per Share, SunTrust Banks Forecasts” was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this story on another domain, it was copied illegally and republished in violation of United States and international copyright laws. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2017/12/12/synnex-corporation-snx-to-post-fy2017-earnings-of-8-77-per-share-suntrust-banks-forecasts.html.

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.

Earnings History and Estimates for Synnex (NYSE:SNX)

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

Leave a Reply