Analysts forecast that SYNNEX Co. (NYSE:SNX) will report sales of $5.29 billion for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for SYNNEX’s earnings. The lowest sales estimate is $5.26 billion and the highest is $5.31 billion. SYNNEX reported sales of $4.55 billion in the same quarter last year, which indicates a positive year over year growth rate of 16.3%. The company is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, March 27th.
On average, analysts expect that SYNNEX will report full-year sales of $21.86 billion for the current financial year, with estimates ranging from $21.32 billion to $22.24 billion. For the next fiscal year, analysts expect that the company will report sales of $22.65 billion, with estimates ranging from $22.34 billion to $22.97 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for SYNNEX.
SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, January 10th. The business services provider reported $3.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.25 by $0.40. The company had revenue of $5.62 billion during the quarter, compared to analyst estimates of $5.54 billion. SYNNEX had a net margin of 1.50% and a return on equity of 17.54%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $2.79 EPS.
Several research firms recently issued reports on SNX. Zacks Investment Research lowered shares of SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 5th. ValuEngine lowered shares of SYNNEX from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 5th. Citigroup raised shares of SYNNEX from a “neutral” rating to a “buy” rating and set a $97.02 price objective for the company in a research note on Monday, January 28th. Cross Research raised shares of SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, January 11th. Finally, TheStreet raised shares of SYNNEX from a “c+” rating to a “b-” rating in a research note on Friday, January 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $111.00.
In related news, CFO Marshall Witt sold 600 shares of SYNNEX stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $79.31, for a total value of $47,586.00. Following the transaction, the chief financial officer now owns 17,674 shares in the company, valued at approximately $1,401,724.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrea M. Zulberti sold 2,416 shares of SYNNEX stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $90.45, for a total transaction of $218,527.20. Following the completion of the transaction, the director now owns 14,717 shares in the company, valued at approximately $1,331,152.65. The disclosure for this sale can be found here. Insiders sold a total of 4,216 shares of company stock worth $383,383 in the last quarter. Insiders own 3.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. JOYN Advisors Inc. raised its holdings in SYNNEX by 375.0% in the 4th quarter. JOYN Advisors Inc. now owns 380 shares of the business services provider’s stock worth $31,000 after acquiring an additional 300 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of SYNNEX by 103.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 498 shares of the business services provider’s stock worth $40,000 after purchasing an additional 253 shares during the period. Sage Capital Advisors llc bought a new position in shares of SYNNEX during the 4th quarter worth about $40,000. O Shaughnessy Asset Management LLC bought a new position in shares of SYNNEX during the 4th quarter worth about $70,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of SYNNEX by 199.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,223 shares of the business services provider’s stock worth $104,000 after purchasing an additional 814 shares during the period. Hedge funds and other institutional investors own 76.58% of the company’s stock.
Shares of NYSE:SNX traded up $1.98 during trading on Tuesday, reaching $96.18. 224,170 shares of the company traded hands, compared to its average volume of 428,713. The firm has a market capitalization of $4.84 billion, a P/E ratio of 8.83 and a beta of 0.74. SYNNEX has a 1-year low of $71.82 and a 1-year high of $126.99. The company has a quick ratio of 0.94, a current ratio of 1.45 and a debt-to-equity ratio of 0.76.
SYNNEX Corporation provides business process services in the Americas, Asia-Pacific, Europe and Africa. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center servers and storage solutions; system components; software; networking, communications, and security equipment; consumer electronics; and complementary products.
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