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.
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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