Wall Street analysts expect that Synnex Corporation (NYSE:SNX) will post $4.01 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Synnex Corporation’s earnings. Synnex Corporation reported sales of $3.67 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.3%. The company is expected to issue its next earnings results on Monday, September 25th.

On average, analysts expect that Synnex Corporation will report full year sales of $4.01 billion for the current financial year, with estimates ranging from $15.73 billion to $15.77 billion. For the next year, analysts anticipate that the business will report sales of $16.36 billion per share, with estimates ranging from $16.30 billion to $16.43 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Synnex Corporation.

Synnex Corporation (NYSE:SNX) last announced its quarterly earnings data on Thursday, June 22nd. The business services provider reported $2.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.29. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Synnex Corporation had a net margin of 1.86% and a return on equity of 16.29%. The business’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 earnings per share.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Synnex Corporation from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a report on Thursday, March 30th. Stifel Nicolaus restated a “buy” rating and issued a $128.00 price target (up previously from $120.00) on shares of Synnex Corporation in a report on Friday, June 9th. Citigroup Inc. restated a “neutral” rating and issued a $133.00 price target (up previously from $122.00) on shares of Synnex Corporation in a report on Sunday, June 25th. BidaskClub upgraded shares of Synnex Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Raymond James Financial, Inc. upgraded shares of Synnex Corporation from a “market perform” rating to a “strong-buy” rating and set a $122.00 price target for the company in a report on Friday, May 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Synnex Corporation has an average rating of “Buy” and an average target price of $126.00.

In related news, SVP Simon Leung sold 971 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $108.78, for a total transaction of $105,625.38. Following the completion of the transaction, the senior vice president now owns 28,078 shares in the company, valued at approximately $3,054,324.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Dennis Polk sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $108.21, for a total transaction of $162,315.00. Following the transaction, the chief operating officer now owns 38,968 shares of the company’s stock, valued at approximately $4,216,727.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,324 shares of company stock valued at $2,733,063. Company insiders own 3.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its position in Synnex Corporation by 11.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,030 shares of the business services provider’s stock valued at $609,000 after buying an additional 500 shares during the period. Teachers Advisors LLC raised its position in Synnex Corporation by 58.5% in the fourth quarter. Teachers Advisors LLC now owns 75,143 shares of the business services provider’s stock valued at $9,094,000 after buying an additional 27,726 shares during the period. Capstone Asset Management Co. raised its position in Synnex Corporation by 8.3% in the first quarter. Capstone Asset Management Co. now owns 3,778 shares of the business services provider’s stock valued at $423,000 after buying an additional 290 shares during the period. Alpha Windward LLC raised its position in Synnex Corporation by 1.5% in the first quarter. Alpha Windward LLC now owns 4,080 shares of the business services provider’s stock valued at $457,000 after buying an additional 60 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in Synnex Corporation by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the business services provider’s stock valued at $828,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 71.71% of the company’s stock.

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Shares of Synnex Corporation (NYSE:SNX) traded down 1.14% during midday trading on Friday, reaching $119.82. 173,436 shares of the company’s stock were exchanged. Synnex Corporation has a 12-month low of $98.07 and a 12-month high of $131.35. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 17.20 and a beta of 1.05. The stock’s 50 day moving average price is $119.25 and its 200 day moving average price is $115.90.

Synnex Corporation announced that its board has approved a stock repurchase plan on Thursday, June 22nd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the business services provider to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.83%. Synnex Corporation’s dividend payout ratio is currently 14.35%.

About Synnex Corporation

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 Corporation (NYSE:SNX)

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