Zacks: Brokerages Anticipate Synnex Corporation (SNX) to Announce $2.11 EPS

Wall Street brokerages expect Synnex Corporation (NYSE:SNX) to post earnings per share (EPS) of $2.11 for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Synnex’s earnings. Synnex posted earnings per share of $1.82 during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.9%. The company is scheduled to announce its next quarterly earnings results on Monday, March 26th.

According to Zacks, analysts expect that Synnex will report full-year earnings of $10.42 per share for the current financial year, with EPS estimates ranging from $10.35 to $10.50. For the next financial year, analysts expect that the company will post earnings of $11.20 per share, with EPS estimates ranging from $11.10 to $11.29. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Synnex.

Synnex (NYSE:SNX) last announced its quarterly earnings data on Tuesday, January 9th. The business services provider reported $2.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.69 by $0.10. Synnex had a net margin of 1.77% and a return on equity of 16.43%. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the firm posted $2.57 EPS. Synnex’s revenue for the quarter was up 36.7% on a year-over-year basis.

A number of brokerages have recently issued reports on SNX. Zacks Investment Research raised shares of Synnex from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a report on Saturday, January 13th. Loop Capital raised their price target on shares of Synnex from $1.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Needham & Company LLC raised their price target on shares of Synnex from $145.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Citigroup reaffirmed a “neutral” rating and set a $150.00 price target on shares of Synnex in a report on Wednesday, January 10th. Finally, Pivotal Research reaffirmed a “hold” rating and set a $150.00 price target (up previously from $138.00) on shares of Synnex in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $145.38.

Shares of Synnex (SNX) traded up $1.59 during mid-day trading on Friday, reaching $135.20. 164,741 shares of the company traded hands, compared to its average volume of 292,446. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 0.50. The stock has a market cap of $5,400.00, a P/E ratio of 18.00 and a beta of 1.08. Synnex has a one year low of $101.48 and a one year high of $141.94.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 19th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, January 18th. This is an increase from Synnex’s previous quarterly dividend of $0.30. Synnex’s dividend payout ratio (DPR) is presently 15.98%.

In related news, Director Andrea M. Zulberti sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $137.91, for a total value of $206,865.00. Following the transaction, the director now owns 13,922 shares of the company’s stock, valued at $1,919,983.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas S. Wurster sold 300 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $134.05, for a total transaction of $40,215.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,260,400 shares of company stock worth $164,262,557. Insiders own 3.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SNX. Advisor Group Inc. boosted its holdings in shares of Synnex by 50.1% in the second quarter. Advisor Group Inc. now owns 929 shares of the business services provider’s stock worth $112,000 after buying an additional 310 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Synnex by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,122 shares of the business services provider’s stock worth $135,000 after buying an additional 96 shares during the last quarter. Shelton Capital Management purchased a new position in shares of Synnex in the second quarter worth approximately $246,000. Riverhead Capital Management LLC boosted its holdings in shares of Synnex by 74.8% in the second quarter. Riverhead Capital Management LLC now owns 2,098 shares of the business services provider’s stock worth $252,000 after buying an additional 898 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Synnex by 175.0% in the third quarter. Canada Pension Plan Investment Board now owns 2,200 shares of the business services provider’s stock worth $278,000 after buying an additional 1,400 shares during the last quarter. 71.67% of the stock is currently owned by institutional investors.

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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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