$2.69 EPS Expected for Synnex Corporation (SNX) This Quarter

Equities analysts expect Synnex Corporation (NYSE:SNX) to report earnings of $2.69 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Synnex’s earnings, with estimates ranging from $2.66 to $2.71. Synnex posted earnings of $2.57 per share during the same quarter last year, which would indicate a positive year over year growth rate of 4.7%. The business is scheduled to report its next earnings report on Tuesday, January 9th.

According to Zacks, analysts expect that Synnex will report full year earnings of $8.78 per share for the current year, with EPS estimates ranging from $8.72 to $8.86. For the next year, analysts anticipate that the firm will post earnings of $9.60 per share, with EPS estimates ranging from $9.52 to $9.68. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Synnex.

Synnex (NYSE:SNX) last issued its quarterly earnings data on Monday, September 25th. The business services provider reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.19. The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4 billion. Synnex had a net margin of 1.89% and a return on equity of 16.58%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 EPS.

Several research firms recently commented on SNX. SunTrust Banks began coverage on shares of Synnex in a research report on Thursday, December 7th. They issued a “buy” rating and a $145.00 price target for the company. Citigroup upped their price target on shares of Synnex from $122.00 to $130.00 and gave the company a “neutral” rating in a research report on Tuesday, September 26th. Needham & Company LLC upped their price target on shares of Synnex from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 26th. ValuEngine upgraded shares of Synnex from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Loop Capital upped their price target on shares of Synnex from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $136.22.

Shares of Synnex (NYSE:SNX) opened at $133.01 on Friday. Synnex has a 12-month low of $101.48 and a 12-month high of $137.80. The company has a market cap of $5,315.74, a price-to-earnings ratio of 15.41 and a beta of 1.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.61 and a quick ratio of 0.80.

In related news, Director Fred A. Breidenbach sold 1,321 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $127.92, for a total value of $168,982.32. Following the sale, the director now directly owns 18,087 shares in the company, valued at approximately $2,313,689.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin M. Murai sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $130.37, for a total transaction of $260,740.00. The disclosure for this sale can be found here. Insiders sold a total of 12,721 shares of company stock worth $1,667,635 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. purchased a new stake in shares of Synnex in the 3rd quarter worth about $4,048,000. Schwab Charles Investment Management Inc. lifted its holdings in Synnex by 2.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 190,892 shares of the business services provider’s stock valued at $22,900,000 after purchasing an additional 3,903 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Synnex by 126.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 15,300 shares of the business services provider’s stock valued at $1,835,000 after purchasing an additional 8,531 shares in the last quarter. Quantbot Technologies LP purchased a new position in Synnex in the 3rd quarter valued at about $1,212,000. Finally, Capital Analysts LLC purchased a new position in Synnex in the 2nd quarter valued at about $966,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

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About Synnex

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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Earnings History and Estimates for Synnex (NYSE:SNX)

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