SYNNEX (NYSE:SNX) posted its quarterly earnings data on Sunday. The business services provider reported $5.21 earnings per share for the quarter, topping the consensus estimate of $3.83 by $1.38, Briefing.com reports. The firm had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $6.60 billion. SYNNEX had a net margin of 2.06% and a return on equity of 16.78%. SYNNEX’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.26 EPS.
NYSE SNX traded up $0.54 on Tuesday, reaching $88.23. The company had a trading volume of 35,259 shares, compared to its average volume of 523,133. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 1.30 and a beta of 1.51. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.52. SYNNEX has a 1-year low of $21.25 and a 1-year high of $89.86. The company’s fifty day moving average is $95.99 and its 200-day moving average is $123.28.
In other news, insider Michael Urban sold 350 shares of the company’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $145.76, for a total value of $51,016.00. Following the sale, the insider now directly owns 10,610 shares of the company’s stock, valued at approximately $1,546,513.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kevin M. Murai sold 2,213 shares of SYNNEX stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $133.12, for a total value of $294,594.56. Following the transaction, the director now owns 7,739 shares of the company’s stock, valued at approximately $1,030,215.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,153 shares of company stock valued at $3,352,059. Company insiders own 2.80% of the company’s stock.
Several brokerages have commented on SNX. Cross Research cut shares of SYNNEX from a “buy” rating to a “hold” rating in a research report on Thursday, January 7th. ValuEngine raised shares of SYNNEX from a “sell” rating to a “hold” rating in a report on Tuesday, January 5th. TheStreet lowered shares of SYNNEX from a “b-” rating to a “c” rating in a report on Tuesday, December 22nd. Smith Barney Citigroup boosted their price target on shares of SYNNEX from $95.00 to $100.00 in a report on Tuesday. Finally, Zacks Investment Research lowered shares of SYNNEX from a “hold” rating to a “sell” rating and set a $80.00 price target for the company. in a report on Wednesday, December 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. SYNNEX presently has an average rating of “Buy” and an average target price of $118.11.
SYNNEX Company Profile
SYNNEX Corporation provides business process services in the United States and internationally. 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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