Analysts Expect Synnex Corporation (SNX) Will Announce Quarterly Sales of $4.88 Billion

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

According to Zacks, analysts expect that Synnex 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 anticipate that the business will post sales of $18.78 billion per share, with estimates ranging from $18.53 billion to $19.02 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Synnex.

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

Several equities research analysts recently commented on SNX shares. ValuEngine raised Synnex from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Loop Capital increased their price objective on Synnex from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, September 26th. Needham & Company LLC raised their target price on Synnex from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 26th. Zacks Investment Research raised Synnex from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research report on Thursday, September 21st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $132.00 target price on shares of Synnex in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $135.13.

Synnex (SNX) traded down $0.17 during trading on Friday, hitting $136.20. The company had a trading volume of 305,900 shares, compared to its average volume of 202,530. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.61 and a quick ratio of 0.80. Synnex has a 12 month low of $101.48 and a 12 month high of $137.80. The stock has a market capitalization of $5,488.42, a PE ratio of 15.91 and a beta of 1.09.

In related news, CEO Kevin M. Murai sold 2,000 shares of Synnex stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $113.66, for a total transaction of $227,320.00. Following the sale, the chief executive officer now owns 142,311 shares of the company’s stock, valued at approximately $16,175,068.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fred A. Breidenbach sold 1,321 shares of Synnex stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $127.92, for a total value of $168,982.32. Following the sale, the director now directly owns 18,087 shares in the company, valued at approximately $2,313,689.04. The disclosure for this sale can be found here. Insiders sold 10,921 shares of company stock worth $1,386,175 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new stake in Synnex in the 3rd quarter worth approximately $889,000. California Public Employees Retirement System increased its stake in Synnex by 5.7% in the 3rd quarter. California Public Employees Retirement System now owns 58,110 shares of the business services provider’s stock worth $7,351,000 after acquiring an additional 3,110 shares during the last quarter. Affinity Wealth Management increased its stake in Synnex by 72.4% in the 3rd quarter. Affinity Wealth Management now owns 3,222 shares of the business services provider’s stock worth $408,000 after acquiring an additional 1,353 shares during the last quarter. Jane Street Group LLC bought a new stake in Synnex in the 3rd quarter worth approximately $484,000. Finally, Invictus RG increased its stake in Synnex by 30.6% in the 3rd quarter. Invictus RG now owns 2,994 shares of the business services provider’s stock worth $379,000 after acquiring an additional 701 shares during the last quarter. 71.68% of the stock is currently owned by institutional investors and hedge funds.

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About Synnex

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 (NYSE:SNX)

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