$4.50 Billion in Sales Expected for Synnex Corporation (SNX) This Quarter

Wall Street analysts expect Synnex Corporation (NYSE:SNX) to post sales of $4.50 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Synnex’s earnings, with the lowest sales estimate coming in at $4.47 billion and the highest estimate coming in at $4.54 billion. Synnex posted sales of $3.52 billion during the same quarter last year, which suggests a positive year over year growth rate of 27.8%. The business is scheduled to issue its next earnings report on Monday, March 26th.

On average, analysts expect that Synnex will report full-year sales of $4.50 billion for the current financial year, with estimates ranging from $19.34 billion to $19.61 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $20.20 billion per share, with estimates ranging from $19.71 billion to $20.51 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms 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 return on equity of 16.43% and a net margin of 1.77%. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the business earned $2.57 earnings per share. The business’s revenue was up 36.7% on a year-over-year basis.

Several equities analysts have recently commented on the company. Pivotal Research restated a “hold” rating and issued a $150.00 price objective (up from $138.00) on shares of Synnex in a research report on Wednesday, January 10th. Needham & Company LLC boosted their price objective on Synnex from $145.00 to $151.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Citigroup boosted their price objective on Synnex from $122.00 to $130.00 and gave the company a “neutral” rating in a research report on Tuesday, September 26th. ValuEngine upgraded Synnex from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Loop Capital boosted their price objective on Synnex from $1.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $145.38.

In other Synnex news, Director Matthew Miau sold 800,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $130.30, for a total transaction of $104,240,000.00. Following the sale, the director now directly owns 375,557 shares of the company’s stock, valued at $48,935,077.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Star Developments Ltd Silver sold 451,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $130.30, for a total value of $58,765,300.00. Following the sale, the insider now directly owns 4,997,878 shares in the company, valued at $651,223,503.40. The disclosure for this sale can be found here. Insiders sold 1,260,400 shares of company stock worth $164,262,557 over the last quarter. 3.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oakbrook Investments LLC increased its stake in Synnex by 30.3% during the fourth quarter. Oakbrook Investments LLC now owns 2,150 shares of the business services provider’s stock worth $292,000 after acquiring an additional 500 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Synnex by 4.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 209,838 shares of the business services provider’s stock worth $28,528,000 after acquiring an additional 9,113 shares during the last quarter. Bank of Montreal Can increased its stake in Synnex by 79.1% during the fourth quarter. Bank of Montreal Can now owns 4,883 shares of the business services provider’s stock worth $663,000 after acquiring an additional 2,157 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Synnex during the third quarter worth approximately $889,000. Finally, California Public Employees Retirement System increased its stake in Synnex by 5.7% during the third 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. 71.67% of the stock is currently owned by institutional investors.

Synnex (NYSE:SNX) opened at $135.20 on Friday. Synnex has a 52-week low of $101.48 and a 52-week high of $141.94. The company has a market capitalization of $5,339.75, a PE ratio of 18.03 and a beta of 1.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.42 and a quick ratio of 0.89.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 19th will be given a $0.35 dividend. This is an increase from Synnex’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Thursday, January 18th. Synnex’s payout ratio is currently 18.67%.

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Synnex Company Profile

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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