Analysts Anticipate Syntel, Inc. (SYNT) to Post $0.39 Earnings Per Share
Brokerages expect Syntel, Inc. (NASDAQ:SYNT) to announce $0.39 earnings per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Syntel’s earnings, with estimates ranging from $0.37 to $0.43. Syntel posted earnings of $0.57 per share in the same quarter last year, which would suggest a negative year over year growth rate of 31.6%. The firm is scheduled to announce its next earnings results on Thursday, February 15th.
According to Zacks, analysts expect that Syntel will report full year earnings of $1.87 per share for the current year, with EPS estimates ranging from $1.85 to $1.91. For the next fiscal year, analysts anticipate that the business will post earnings of $1.82 per share, with EPS estimates ranging from $1.75 to $1.92. Zacks’ EPS averages are a mean average based on a survey of research firms that that provide coverage for Syntel.
Syntel (NASDAQ:SYNT) last posted its earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.17. Syntel had a net margin of 18.64% and a negative return on equity of 119.25%. The firm had revenue of $231.34 million during the quarter. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis.
A number of research analysts have issued reports on SYNT shares. William Blair upgraded Syntel from an “underperform” rating to an “outperform” rating in a report on Tuesday, October 17th. Zacks Investment Research upgraded Syntel from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Tuesday, July 25th. SunTrust Banks, Inc. restated a “hold” rating and issued a $20.00 price target on shares of Syntel in a report on Tuesday, October 17th. Maxim Group restated a “hold” rating on shares of Syntel in a report on Thursday, July 20th. Finally, Loop Capital restated a “buy” rating and issued a $28.00 price target on shares of Syntel in a report on Wednesday, October 18th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Syntel currently has a consensus rating of “Hold” and an average price target of $23.10.
Shares of Syntel (NASDAQ SYNT) traded up 0.515% during midday trading on Monday, hitting $24.375. 779,123 shares of the company were exchanged. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 11.884 and a beta of 1.06. Syntel has a 52-week low of $15.82 and a 52-week high of $25.80. The company has a 50-day moving average price of $19.74 and a 200-day moving average price of $18.21.
Syntel declared that its board has approved a stock repurchase plan on Thursday, July 20th that permits the company to repurchase $60.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. lifted its stake in Syntel by 40.1% during the third quarter. Fox Run Management L.L.C. now owns 25,500 shares of the information technology services provider’s stock worth $501,000 after purchasing an additional 7,300 shares during the last quarter. Shell Asset Management Co. bought a new position in shares of Syntel in the 3rd quarter valued at $2,459,000. Dynamic Technology Lab Private Ltd lifted its stake in shares of Syntel by 17.9% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 26,145 shares of the information technology services provider’s stock valued at $443,000 after acquiring an additional 3,978 shares during the last quarter. Roberts Glore & Co. Inc. IL lifted its stake in shares of Syntel by 38.7% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 25,975 shares of the information technology services provider’s stock valued at $441,000 after acquiring an additional 7,250 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Syntel by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,574 shares of the information technology services provider’s stock valued at $468,000 after acquiring an additional 683 shares during the last quarter. Hedge funds and other institutional investors own 34.70% of the company’s stock.
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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