Recent Analysts’ Ratings Updates for Synnex (SNX)

Synnex (NYSE: SNX) has recently received a number of price target changes and ratings updates:

  • 1/10/2018 – Synnex had its price target raised by analysts at Loop Capital from $1.00 to $160.00. They now have a “buy” rating on the stock.
  • 1/10/2018 – Synnex had its price target raised by analysts at Needham & Company LLC from $145.00 to $151.00. They now have a “buy” rating on the stock.
  • 1/10/2018 – Synnex had its “neutral” rating reaffirmed by analysts at Citigroup Inc. They now have a $150.00 price target on the stock.
  • 1/10/2018 – Synnex had its “hold” rating reaffirmed by analysts at Pivotal Research. They now have a $150.00 price target on the stock, up previously from $138.00.
  • 12/7/2017 – Synnex is now covered by analysts at SunTrust Banks, Inc.. They set a “buy” rating and a $145.00 price target on the stock.
  • 11/28/2017 – Synnex was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “SYNNEX Corporation is a global information technology supply chain services company offering a comprehensive range of services to original equipment manufacturers and software publishers, or (OEMs), and reseller customers worldwide. The company offers product distribution, related logistics services and contract assembly. SYNNEX distributes IT systems, peripherals, system components, software and networking equipment for OEM suppliers such as HP, IBM, Intel, Microsoft Corporation and Seagate. “

Shares of Synnex Corporation (SNX) traded down $8.91 during midday trading on Thursday, hitting $131.79. The stock had a trading volume of 517,200 shares, compared to its average volume of 284,214. The stock has a market capitalization of $5,270.00, a price-to-earnings ratio of 17.88 and a beta of 1.08. The company has a quick ratio of 0.80, a current ratio of 1.61 and a debt-to-equity ratio of 0.25. Synnex Corporation has a 52 week low of $101.48 and a 52 week high of $141.94.

Synnex (NYSE:SNX) last issued its earnings results on Tuesday, January 9th. The business services provider reported $2.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.69 by $0.10. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $4.85 billion. Synnex had a return on equity of 16.58% and a net margin of 1.89%. Synnex’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.57 earnings per share. analysts anticipate that Synnex Corporation will post 8.78 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 19th will be paid a $0.35 dividend. The ex-dividend date is Thursday, January 18th. This represents a $1.40 annualized dividend and a yield of 1.06%. This is a positive change from Synnex’s previous quarterly dividend of $0.30. Synnex’s dividend payout ratio is currently 16.28%.

In other Synnex news, CFO Marshall Witt sold 300 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $135.52, for a total value of $40,656.00. Following the completion of the sale, the chief financial officer now owns 21,300 shares in the company, valued at $2,886,576. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Dennis Polk sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $134.91, for a total value of $202,365.00. Following the completion of the sale, the chief operating officer now owns 21,874 shares of the company’s stock, valued at approximately $2,951,021.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,900 shares of company stock valued at $1,050,392. 3.20% of the stock is owned by insiders.

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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