SYNNEX (NYSE:SNX) Posts Quarterly Earnings Results, Beats Estimates By $1.38 EPS


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SYNNEX (NYSE:SNX) released its quarterly earnings results on Sunday. The business services provider reported $5.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.83 by $1.38, Briefing.com reports. The business had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $6.60 billion. SYNNEX had a return on equity of 16.78% and a net margin of 2.06%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.26 EPS.

Shares of NYSE:SNX opened at $87.69 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.52. SYNNEX has a 1 year low of $21.25 and a 1 year high of $89.86. The stock has a market capitalization of $4.52 billion, a P/E ratio of 9.26, a PEG ratio of 1.30 and a beta of 1.51. The stock has a 50-day simple moving average of $95.99 and a 200-day simple moving average of $123.28.

SNX has been the subject of several research reports. Loop Capital lifted their price target on SYNNEX from $140.00 to $170.00 in a research note on Wednesday, September 30th. TheStreet downgraded shares of SYNNEX from a “b-” rating to a “c” rating in a research note on Tuesday, December 22nd. Raymond James boosted their target price on shares of SYNNEX from $140.00 to $160.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 30th. Citigroup boosted their target price on shares of SYNNEX from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, September 30th. They noted that the move was a valuation call. Finally, Stifel Nicolaus downgraded shares of SYNNEX from a “buy” rating to a “hold” rating and cut their target price for the company from $156.00 to $85.00 in a research note on Tuesday, December 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. SYNNEX has an average rating of “Buy” and a consensus target price of $131.86.

In other SYNNEX news, insider Michael Urban sold 350 shares of the company’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $145.76, for a total value of $51,016.00. Following the completion of the transaction, the insider now owns 10,610 shares in the company, valued at approximately $1,546,513.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kevin M. Murai sold 4,600 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $144.62, for a total value of $665,252.00. Following the completion of the transaction, the director now owns 8,358 shares of the company’s stock, valued at approximately $1,208,733.96. The disclosure for this sale can be found here. Insiders have sold a total of 23,153 shares of company stock valued at $3,352,059 in the last quarter. Company insiders own 2.80% of the company’s stock.

SYNNEX Company Profile

SYNNEX Corporation provides business process services in the United States and internationally. 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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Earnings History for SYNNEX (NYSE:SNX)

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