Syntel, Inc. (SYNT) Issues FY17 Earnings Guidance
Syntel, Inc. (NASDAQ:SYNT) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $1.57-1.77 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.89. The company issued revenue guidance of $855-900 million, compared to the consensus revenue estimate of $918.84 million.
Several equities analysts recently commented on the company. Zacks Investment Research downgraded Syntel from a hold rating to a strong sell rating in a research note on Thursday, December 22nd. Loop Capital assumed coverage on Syntel in a research note on Tuesday, January 10th. They issued a buy rating and a $27.00 price objective on the stock. Cantor Fitzgerald reiterated a hold rating and issued a $23.00 price objective on shares of Syntel in a research note on Thursday, February 16th. Needham & Company LLC dropped their target price on Syntel from $27.00 to $23.00 and set a buy rating on the stock in a research report on Friday, February 17th. Finally, Cowen and Company began coverage on Syntel in a research report on Wednesday, January 18th. They set a market perform rating and a $23.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Syntel presently has an average rating of Hold and a consensus target price of $29.78.
Syntel, Inc. (NASDAQ:SYNT) opened at 17.59 on Thursday. Syntel, Inc. has a 12-month low of $16.22 and a 12-month high of $48.41. The stock has a 50 day moving average of $17.16 and a 200 day moving average of $20.16. The company’s market cap is $1.47 billion.
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Syntel (NASDAQ:SYNT) last issued its quarterly earnings results on Thursday, February 16th. The information technology services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. The company had revenue of $237.89 million for the quarter, compared to the consensus estimate of $236.99 million. Syntel had a negative net margin of 3.17% and a positive return on equity of 28.09%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS. Equities analysts expect that Syntel, Inc. will post $1.89 earnings per share for the current year.
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Syntel, Inc (Syntel) is a global provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. The Company operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom.
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