Synnex Corp. (SNX) Scheduled to Post Earnings on Monday
Synnex Corp. (NYSE:SNX) will be announcing its Q316 earnings results on Monday, September 26th. Analysts expect the company to announce earnings of $1.56 per share and revenue of $3.49 billion for the quarter.
Synnex Corp. (NYSE:SNX) last posted its quarterly earnings results on Thursday, June 23rd. The company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.06. The business had revenue of $3.38 billion for the quarter. Synnex Corp. had a return on equity of 13.22% and a net margin of 1.50%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.55 EPS. On average, analysts expect Synnex Corp. to post $6.23 EPS for the current fiscal year and $7.09 EPS for the next fiscal year.
Shares of Synnex Corp. (NYSE:SNX) opened at 105.33 on Thursday. The stock has a market cap of $4.19 billion, a P/E ratio of 20.86 and a beta of 1.04. Synnex Corp. has a 1-year low of $75.87 and a 1-year high of $108.03. The firm’s 50-day moving average price is $104.29 and its 200 day moving average price is $94.77.
SNX has been the topic of several research reports. Zacks Investment Research lowered shares of Synnex Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, August 25th. Raymond James Financial Inc. lowered shares of Synnex Corp. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 8th. Brean Capital restated a “buy” rating and issued a $108.00 target price (up previously from $97.00) on shares of Synnex Corp. in a research report on Friday, June 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Synnex Corp. in a research report on Friday, June 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $100.60.
In other news, Director Andrea M. Zulberti sold 2,500 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $99.36, for a total value of $248,400.00. Following the completion of the transaction, the director now directly owns 13,785 shares in the company, valued at $1,369,677.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Simon Leung sold 1,000 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $93.71, for a total transaction of $93,710.00. Following the completion of the transaction, the senior vice president now owns 25,786 shares of the company’s stock, valued at $2,416,406.06. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its position in Synnex Corp. by 101.4% in the second quarter. AQR Capital Management LLC now owns 589,587 shares of the company’s stock valued at $55,905,000 after buying an additional 296,882 shares during the period. Paloma Partners Management Co boosted its stake in shares of Synnex Corp. by 415.4% in the second quarter. Paloma Partners Management Co now owns 15,056 shares of the company’s stock worth $1,427,000 after buying an additional 12,135 shares during the last quarter. KCG Holdings Inc. boosted its stake in shares of Synnex Corp. by 156.7% in the second quarter. KCG Holdings Inc. now owns 6,449 shares of the company’s stock worth $611,000 after buying an additional 3,937 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Synnex Corp. during the second quarter worth $175,000. Finally, Paradigm Asset Management Co. LLC boosted its stake in shares of Synnex Corp. by 14.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 3,100 shares of the company’s stock worth $294,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 75.41% of the company’s stock.
About Synnex Corp.
SYNNEX Corporation is a process services company. The Company offers a range of services to resellers, retailers, original equipment manufacturers (OEMs), financial and insurance institutions, and other industry verticals across the world. The Company operates in two segments: Technology Solutions and Concentrix.
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