SYNNEX (NYSE:SNX) Announces Quarterly Earnings Results

SYNNEX (NYSE:SNX) issued its quarterly earnings results on Thursday. The business services provider reported $4.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.61 by $0.65, Briefing.com reports. SYNNEX had a return on equity of 19.16% and a net margin of 2.11%. The company had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $5.99 billion. During the same quarter in the prior year, the business earned $3.65 EPS. SYNNEX’s revenue was up 18.7% on a year-over-year basis. SYNNEX updated its Q1 2020
After-Hours guidance to 3.03-3.22 EPS and its Q1 guidance to $3.03-3.22 EPS.

NYSE:SNX opened at $145.56 on Friday. The stock has a 50-day simple moving average of $127.07 and a 200-day simple moving average of $107.90. The stock has a market cap of $6.58 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.94 and a beta of 1.03. SYNNEX has a 1 year low of $78.55 and a 1 year high of $148.63. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.57.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be given a dividend of $0.40 per share. This is a boost from SYNNEX’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Thursday, January 23rd. SYNNEX’s dividend payout ratio is currently 11.31%.

Several equities research analysts have weighed in on the company. TheStreet upgraded SYNNEX from a “c+” rating to a “b-” rating in a report on Friday, September 27th. ValuEngine downgraded SYNNEX from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Stifel Nicolaus upped their price target on SYNNEX from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday. Loop Capital restated a “buy” rating and set a $175.00 price target on shares of SYNNEX in a report on Friday. Finally, Raymond James upped their price target on SYNNEX from $140.00 to $165.00 and gave the stock a “strong-buy” rating in a report on Friday. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $146.57.

In other news, SVP Simon Leung sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $117.77, for a total transaction of $117,770.00. Following the completion of the transaction, the senior vice president now directly owns 17,528 shares of the company’s stock, valued at approximately $2,064,272.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andrea M. Zulberti sold 500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $129.71, for a total value of $64,855.00. Following the transaction, the director now directly owns 13,265 shares of the company’s stock, valued at $1,720,603.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,364 shares of company stock valued at $2,245,328. Insiders own 3.20% of the company’s stock.

About SYNNEX

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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Earnings History for SYNNEX (NYSE:SNX)

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