Wall Street brokerages expect Synnex Corporation (NYSE:SNX) to announce earnings of $2.68 per share for the current quarter, according to Zacks. Two analysts have made estimates for Synnex Corporation’s earnings, with the lowest EPS estimate coming in at $2.66 and the highest estimate coming in at $2.70. Synnex Corporation posted earnings of $2.57 per share during the same quarter last year, which indicates a positive year over year growth rate of 4.3%. The business is scheduled to issue its next earnings report on Tuesday, January 9th.
According to Zacks, analysts expect that Synnex Corporation will report full-year earnings of $8.79 per share for the current financial year, with EPS estimates ranging from $8.72 to $8.86. For the next year, analysts expect that the business will post earnings of $9.56 per share, with EPS estimates ranging from $9.52 to $9.60. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Synnex Corporation.
Synnex Corporation (NYSE:SNX) last announced its quarterly earnings data on Monday, September 25th. The company reported C$2.16 earnings per share for the quarter, beating the consensus estimate of C$1.97 by C$0.19. Synnex Corporation had a return on equity of 16.58% and a net margin of 1.89%. The business had revenue of C$4.28 billion during the quarter, compared to analyst estimates of C$4 billion. During the same period in the prior year, the company earned $1.73 earnings per share. Synnex Corporation’s revenue was up 16.5% compared to the same quarter last year.
Several equities analysts have weighed in on the company. Stifel Nicolaus reissued a “buy” rating and set a $132.00 price objective on shares of Synnex Corporation in a report on Tuesday, October 17th. Pivotal Research assumed coverage on Synnex Corporation in a report on Friday, October 6th. They set a “hold” rating and a $137.00 price objective for the company. ValuEngine raised Synnex Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Loop Capital increased their price objective on Synnex Corporation from $140.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, September 26th. Finally, Citigroup Inc. increased their price objective on Synnex Corporation from $122.00 to $130.00 and gave the company a “neutral” rating in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Synnex Corporation presently has a consensus rating of “Buy” and an average target price of C$135.13.
In related news, COO Dennis Polk sold 1,500 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of C$134.91, for a total value of C$202,365.00. Following the sale, the chief operating officer now owns 21,874 shares in the company, valued at C$2,951,021.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Marshall Witt sold 300 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of C$135.52, for a total value of C$40,656.00. Following the completion of the sale, the chief financial officer now owns 21,300 shares in the company, valued at approximately C$2,886,576. The disclosure for this sale can be found here. Insiders sold 10,421 shares of company stock valued at $1,301,145 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.
Several hedge funds have recently modified their holdings of SNX. Advisor Group Inc. raised its position in shares of Synnex Corporation by 50.1% in the second quarter. Advisor Group Inc. now owns 929 shares of the company’s stock worth $112,000 after buying an additional 310 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Synnex Corporation by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,122 shares of the company’s stock worth $135,000 after buying an additional 96 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Synnex Corporation by 8.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,310 shares of the company’s stock worth $147,000 after buying an additional 106 shares in the last quarter. Ronald Blue & Co. LLC purchased a new stake in shares of Synnex Corporation in the second quarter worth $203,000. Finally, Opus Capital Group LLC purchased a new stake in shares of Synnex Corporation in the second quarter worth $219,000. Institutional investors own 72.09% of the company’s stock.
Synnex Corporation (NYSE:SNX) opened at C$130.36 on Monday. Synnex Corporation has a twelve month low of C$101.48 and a twelve month high of C$135.87. The firm has a market capitalization of $5,209.84, a price-to-earnings ratio of 15.11 and a beta of 1.09. The company has a current ratio of 1.61, a quick ratio of 0.80 and a debt-to-equity ratio of 0.25.
The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, October 13th were issued a $0.30 dividend. This is a positive change from Synnex Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, October 12th. Synnex Corporation’s dividend payout ratio (DPR) is presently 16.28%.
Synnex Corporation 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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