ValuEngine cut shares of SYNNEX (NYSE:SNX) from a sell rating to a strong sell rating in a report issued on Thursday, ValuEngine reports.
Several other research firms also recently issued reports on SNX. Barrington Research set a $118.00 price objective on shares of SYNNEX and gave the company a buy rating in a report on Friday, July 12th. Zacks Investment Research raised shares of SYNNEX from a hold rating to a buy rating and set a $111.00 price objective on the stock in a report on Friday, June 28th. Finally, Citigroup set a $140.00 price objective on shares of SYNNEX and gave the company a buy rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $122.57.
SNX traded down $5.12 during midday trading on Thursday, hitting $90.84. 383,603 shares of the company traded hands, compared to its average volume of 329,764. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.57 and a quick ratio of 0.99. The stock has a market cap of $4.92 billion, a P/E ratio of 8.34, a price-to-earnings-growth ratio of 0.66 and a beta of 0.96. SYNNEX has a 52-week low of $71.82 and a 52-week high of $109.62. The stock’s 50 day moving average price is $97.03.
SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, June 25th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.15. The business had revenue of $5.72 billion for the quarter, compared to the consensus estimate of $5.53 billion. SYNNEX had a net margin of 1.79% and a return on equity of 17.65%. Equities analysts expect that SYNNEX will post 12.1 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, July 11th. SYNNEX’s dividend payout ratio (DPR) is 13.77%.
In other news, SVP Simon Leung sold 1,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $100.64, for a total value of $100,640.00. Following the completion of the sale, the senior vice president now directly owns 19,307 shares in the company, valued at $1,943,056.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Marshall Witt sold 600 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $86.72, for a total transaction of $52,032.00. Following the completion of the sale, the chief financial officer now owns 15,893 shares of the company’s stock, valued at $1,378,240.96. The disclosure for this sale can be found here. Insiders sold 4,851 shares of company stock valued at $479,674 over the last quarter. Company insiders own 3.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. W.E. Donoghue & Co. LLC acquired a new stake in shares of SYNNEX in the first quarter valued at about $1,015,000. 361 Capital LLC raised its position in shares of SYNNEX by 4.9% in the first quarter. 361 Capital LLC now owns 34,125 shares of the business services provider’s stock valued at $3,255,000 after buying an additional 1,603 shares during the last quarter. Huntington National Bank raised its position in shares of SYNNEX by 31.7% in the first quarter. Huntington National Bank now owns 914 shares of the business services provider’s stock valued at $87,000 after buying an additional 220 shares during the last quarter. Swiss National Bank raised its position in shares of SYNNEX by 3.1% in the first quarter. Swiss National Bank now owns 79,285 shares of the business services provider’s stock valued at $7,563,000 after buying an additional 2,400 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of SYNNEX by 55.4% in the fourth quarter. Geode Capital Management LLC now owns 548,035 shares of the business services provider’s stock valued at $44,302,000 after buying an additional 195,366 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.
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.
Read More: Sell-Side Analysts
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