Wall Street analysts expect that Synnex Corporation (NYSE:SNX) will report $4.88 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Synnex Corporation’s earnings, with the lowest sales estimate coming in at $4.86 billion and the highest estimate coming in at $4.90 billion. Synnex Corporation reported sales of $3.89 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 25.4%. The business is scheduled to issue its next quarterly earnings report on Tuesday, January 9th.

On average, analysts expect that Synnex Corporation will report full year sales of $4.88 billion for the current fiscal year, with estimates ranging from $16.60 billion to $16.63 billion. For the next financial year, analysts forecast that the company will post sales of $18.78 billion per share, with estimates ranging from $18.53 billion to $19.02 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Synnex Corporation.

Synnex Corporation (NYSE:SNX) last released its quarterly earnings results on Monday, September 25th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.19. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4 billion. Synnex Corporation had a return on equity of 16.58% and a net margin of 1.89%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.73 EPS.

Several analysts have recently issued reports on the company. BidaskClub downgraded Synnex Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Stifel Nicolaus reiterated a “buy” rating and set a $132.00 price target on shares of Synnex Corporation in a research note on Thursday, August 3rd. Needham & Company LLC reiterated a “buy” rating and set a $135.00 price target on shares of Synnex Corporation in a research note on Monday, September 18th. ValuEngine downgraded Synnex Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, Loop Capital assumed coverage on Synnex Corporation in a research note on Thursday, August 24th. They set a “buy” rating and a $140.00 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $135.13.

Synnex Corporation (SNX) traded down $1.42 on Wednesday, hitting $129.16. The stock had a trading volume of 76,100 shares, compared to its average volume of 203,493. The company has a market cap of $5,218.65, a P/E ratio of 15.13 and a beta of 1.09. Synnex Corporation has a 52 week low of $101.48 and a 52 week high of $135.87. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.80 and a current ratio of 1.61.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 13th were paid a dividend of $0.30 per share. This is an increase from Synnex Corporation’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, October 12th. This represents a $1.20 annualized dividend and a yield of 0.93%. Synnex Corporation’s dividend payout ratio is presently 16.28%.

In other Synnex Corporation news, CFO Marshall Witt sold 300 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $135.52, for a total value of $40,656.00. Following the completion of the transaction, the chief financial officer now owns 21,300 shares of the company’s stock, valued at approximately $2,886,576. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kevin M. Murai sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $113.66, for a total value of $227,320.00. Following the completion of the transaction, the chief executive officer now directly owns 142,311 shares of the company’s stock, valued at approximately $16,175,068.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,421 shares of company stock valued at $1,301,145. Insiders own 3.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Synnex Corporation by 5.7% in the 2nd quarter. FMR LLC now owns 5,587,157 shares of the business services provider’s stock worth $670,236,000 after buying an additional 302,301 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Synnex Corporation by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,221,813 shares of the business services provider’s stock worth $386,489,000 after buying an additional 71,317 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Synnex Corporation by 13.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,315,521 shares of the business services provider’s stock worth $157,810,000 after buying an additional 154,174 shares in the last quarter. State Street Corp raised its holdings in shares of Synnex Corporation by 3.8% in the 2nd quarter. State Street Corp now owns 993,336 shares of the business services provider’s stock worth $119,164,000 after buying an additional 36,210 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Synnex Corporation by 189.1% in the 3rd quarter. Victory Capital Management Inc. now owns 439,603 shares of the business services provider’s stock worth $55,614,000 after buying an additional 287,522 shares in the last quarter. 71.89% of the stock is owned by hedge funds and other institutional investors.

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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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