Syntel Inc. (SYNT) Releases FY14 Earnings Guidance
Syntel Inc. (NASDAQ:SYNT) updated its FY14 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.10-5.35 for the period, compared to the Thomson Reuters consensus estimate of $5.22, Analyst Ratings Network.com reports. The company issued revenue guidance of $910-940 million, compared to the consensus revenue estimate of $913.03 million.
On a related note, analysts at Zacks downgraded shares of Syntel from an outperform rating to a neutral rating in a research note on Wednesday, December 18th. They now have a $93.00 price target on the stock. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $77.17.
Shares of Syntel Inc. (NASDAQ:SYNT) traded up 8.37% during mid-day trading on Thursday, hitting $90.86. 93,071 shares of the company’s stock traded hands. Syntel Inc. has a 52 week low of $57.85 and a 52 week high of $93.45. The stock has a 50-day moving average of $88.18 and a 200-day moving average of $82.85. The company has a market cap of $3.794 billion and a price-to-earnings ratio of 17.29.
Syntel (NASDAQ:SYNT) last released its earnings data on Thursday, February 13th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.27. The company had revenue of $223.30 million for the quarter, compared to the consensus estimate of $212.50 million. During the same quarter in the previous year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. Analysts expect that Syntel Inc. will post $4.98 EPS for the current fiscal year.
Syntel, Inc is a provider of information technology (NASDAQ:SYNT) and knowledge process outsourcing (KPO) services to Global 2000 companies.
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