Q4 2016 Earnings Forecast for Syntel Inc. Issued By SunTrust Banks (SYNT)
Syntel Inc. (NASDAQ:SYNT) – Stock analysts at SunTrust Banks lowered their Q4 2016 earnings per share (EPS) estimates for shares of Syntel in a research note issued to investors on Monday. SunTrust Banks analyst F. Atkins now anticipates that the brokerage will earn $0.62 per share for the quarter, down from their prior estimate of $0.68. SunTrust Banks also issued estimates for Syntel’s Q1 2017 earnings at $0.57 EPS, Q2 2017 earnings at $0.61 EPS, Q3 2017 earnings at $0.71 EPS, Q4 2017 earnings at $0.72 EPS, FY2017 earnings at $2.61 EPS and FY2018 earnings at $2.81 EPS.
Other research analysts have also issued research reports about the stock. Needham & Company LLC restated a “buy” rating and set a $48.00 target price on shares of Syntel in a research report on Monday, September 12th. Cantor Fitzgerald set a $43.00 target price on shares of Syntel and gave the stock a “hold” rating in a research report on Thursday, July 21st. Maxim Group decreased their target price on shares of Syntel from $48.00 to $45.00 and set a “hold” rating on the stock in a research report on Thursday, July 21st. JPMorgan Chase & Co. restated a “hold” rating and set a $47.00 target price on shares of Syntel in a research report on Tuesday, July 19th. Finally, Zacks Investment Research upgraded shares of Syntel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Syntel currently has an average rating of “Hold” and a consensus target price of $45.00.
Shares of Syntel (NASDAQ:SYNT) opened at 26.96 on Wednesday. Syntel has a one year low of $25.15 and a one year high of $50.92. The company has a 50 day moving average of $42.21 and a 200-day moving average of $44.72. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 8.61 and a beta of 1.12.
Syntel (NASDAQ:SYNT) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The business earned $246 million during the quarter, compared to analyst estimates of $249.12 million. Syntel had a net margin of 26.49% and a return on equity of 22.35%. Syntel’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share.
The business also recently disclosed a special dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 22nd were paid a $15.00 dividend. This is an increase from Syntel’s previous special dividend of $2.25. The ex-dividend date of this dividend was Tuesday, October 4th.
In other Syntel news, insider Prashant Ranade sold 3,200 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $42.01, for a total value of $134,432.00. Following the completion of the transaction, the insider now directly owns 72,100 shares in the company, valued at approximately $3,028,921. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Nitin Rakesh sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $42.01, for a total transaction of $73,517.50. Following the completion of the transaction, the chief executive officer now owns 49,600 shares of the company’s stock, valued at $2,083,696. The disclosure for this sale can be found here. 61.80% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in SYNT. C M Bidwell & Associates Ltd. acquired a new position in shares of Syntel during the first quarter valued at about $100,000. Invictus RG acquired a new position in shares of Syntel during the first quarter valued at about $142,000. Pacer Advisors Inc. acquired a new position in shares of Syntel during the second quarter valued at about $135,000. BNP Paribas Arbitrage SA boosted its position in shares of Syntel by 72.4% in the third quarter. BNP Paribas Arbitrage SA now owns 3,392 shares of the company’s stock valued at $142,000 after buying an additional 1,424 shares during the period. Finally, Cypress Wealth Advisors LLC acquired a new position in shares of Syntel during the first quarter valued at about $209,000. Hedge funds and other institutional investors own 34.06% of the company’s stock.
Syntel Company Profile
Syntel, Inc (Syntel) is a global provider of digital transformation, information technology and knowledge process outsourcing services. The Company operates through five segments: Banking and Financial Services, which serves financial institutions around the world; Healthcare and Life Sciences, which serve various companies, including healthcare payers, providers, and pharmaceutical and medical device providers; Insurance, which serve the needs of property and casualty insurers, insurance brokers, personal, commercial, life and retirement insurance service providers; Manufacturing, which provides business consulting and technology services for industrial and automotive clients, and Retail, Logistics and Telecom, which serves a range of retailers and distributors, logistics clients and clients in the telecom industry.
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