SYNNEX Corp. Given Consensus Rating of “Buy” by Brokerages (NYSE:SNX)
SYNNEX Corp. (NYSE:SNX) has received a consensus rating of “Buy” from the ten ratings firms that are presently covering the stock, American Banking News reports. Five analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $68.50.
SYNNEX Corp. (NYSE:SNX) traded up 0.69% during mid-day trading on Wednesday, hitting $59.50. The stock had a trading volume of 4,739 shares. SYNNEX Corp. has a 1-year low of $32.04 and a 1-year high of $68.71. The stock’s 50-day moving average is $58.4 and its 200-day moving average is $59.85. The company has a market cap of $2.245 billion and a price-to-earnings ratio of 19.29.
SYNNEX Corp. (NYSE:SNX) last posted its quarterly earnings results on Thursday, January 9th. The company reported $1.10 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.18 by $0.08. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the company posted $1.16 earnings per share. SYNNEX Corp.’s revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that SYNNEX Corp. will post $4.95 earnings per share for the current fiscal year.
SNX has been the subject of a number of recent research reports. Analysts at Ned Davis Research upgraded shares of SYNNEX Corp. from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 18th. Separately, analysts at Citigroup Inc. upgraded shares of SYNNEX Corp. from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 15th. They now have a $72.00 price target on the stock, up previously from $64.00. Finally, analysts at Credit Agricole upgraded shares of SYNNEX Corp. from an “underperform” rating to an “outperform” rating in a research note on Tuesday, January 14th. They now have a $65.00 price target on the stock, up previously from $64.00.
Synnex Corporation provides services to resellers, retailers and original equipment manufacturers (NYSE:SNX), in multiple regions around the world.
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