SYNNEX (NYSE:SNX) issued its quarterly earnings results on Thursday. The business services provider reported $4.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.65, Briefing.com reports. The firm had revenue of $6.58 billion during the quarter, compared to analyst estimates of $5.99 billion. SYNNEX had a return on equity of 17.96% and a net margin of 1.92%. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period last year, the company posted $3.65 EPS. SYNNEX updated its Q1 2020
After-Hours guidance to 3.03-3.22 EPS and its Q1 guidance to $3.03-3.22 EPS.
SNX opened at $128.84 on Friday. The firm has a market cap of $6.48 billion, a PE ratio of 11.83, a P/E/G ratio of 0.93 and a beta of 1.03. The company has a quick ratio of 0.96, a current ratio of 1.57 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $126.56 and a 200-day simple moving average of $107.64. SYNNEX has a fifty-two week low of $78.55 and a fifty-two week high of $130.96.
In other news, Director Kevin M. Murai sold 2,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $114.42, for a total transaction of $286,050.00. Following the completion of the sale, the director now directly owns 30,927 shares of the company’s stock, valued at approximately $3,538,667.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 285 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $118.70, for a total value of $33,829.50. Following the sale, the chief financial officer now directly owns 15,642 shares of the company’s stock, valued at $1,856,705.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,364 shares of company stock valued at $2,245,328. Corporate insiders own 3.20% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research raised SYNNEX from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a research note on Tuesday, October 1st. TheStreet raised SYNNEX from a “c+” rating to a “b-” rating in a research note on Friday, September 27th. Barrington Research reaffirmed a “buy” rating and set a $118.00 price target on shares of SYNNEX in a research note on Friday, September 20th. Stifel Nicolaus raised their price objective on SYNNEX from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday. Finally, ValuEngine lowered SYNNEX from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. SYNNEX presently has a consensus rating of “Buy” and an average target price of $132.33.
SYNNEX Corporation provides business process services in the Americas, Asia-Pacific, Europe and Africa. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center servers and storage solutions; system components; software; networking, communications, and security equipment; consumer electronics; and complementary products.
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