Analysts expect Syntel, Inc. (NASDAQ:SYNT) to post sales of $218.24 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Syntel’s earnings, with estimates ranging from $210.50 million to $222.67 million. Syntel reported sales of $241.26 million in the same quarter last year, which indicates a negative year-over-year growth rate of 9.5%. The company is scheduled to report its next quarterly earnings report on Thursday, October 19th.

According to Zacks, analysts expect that Syntel will report full-year sales of $218.24 million for the current year, with estimates ranging from $884.00 million to $892.18 million. For the next year, analysts expect that the business will post sales of $883.85 million per share, with estimates ranging from $865.00 million to $918.19 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Syntel.

Syntel (NASDAQ:SYNT) last released its quarterly earnings data on Thursday, July 20th. The information technology services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.04. Syntel had a negative net margin of 10.11% and a negative return on equity of 110.72%. The business had revenue of $226.81 million for the quarter. During the same period in the previous year, the business earned $0.70 EPS. The firm’s revenue was down 7.7% compared to the same quarter last year.

A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Syntel from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Tuesday, July 25th. Cantor Fitzgerald reissued a “hold” rating and issued a $16.00 price target on shares of Syntel in a research report on Thursday, July 20th. Needham & Company LLC decreased their target price on Syntel from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, April 21st. ValuEngine raised Syntel from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Finally, Maxim Group reaffirmed a “hold” rating on shares of Syntel in a research report on Thursday, July 20th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $26.09.

Several large investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. purchased a new stake in Syntel during the second quarter valued at $181,000. Legal & General Group Plc raised its stake in Syntel by 8.0% in the second quarter. Legal & General Group Plc now owns 11,916 shares of the information technology services provider’s stock valued at $202,000 after buying an additional 881 shares in the last quarter. Eqis Capital Management Inc. raised its stake in Syntel by 4.9% in the first quarter. Eqis Capital Management Inc. now owns 12,259 shares of the information technology services provider’s stock valued at $206,000 after buying an additional 570 shares in the last quarter. HPM Partners LLC purchased a new stake in Syntel during the first quarter valued at $219,000. Finally, Fox Run Management L.L.C. purchased a new stake in Syntel during the second quarter valued at $309,000. Institutional investors own 33.51% of the company’s stock.

Syntel (NASDAQ SYNT) opened at 18.26 on Friday. The company’s market cap is $1.53 billion. The company’s 50-day moving average is $17.78 and its 200 day moving average is $18.04. Syntel has a 1-year low of $15.82 and a 1-year high of $46.95.

Syntel announced that its board has authorized a stock buyback plan on Thursday, July 20th that permits the company to buyback $60.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

ILLEGAL ACTIVITY WARNING: This article was first posted by Daily Political and is the sole property of of Daily Political. If you are reading this article on another domain, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this article can be read at https://www.dailypolitical.com/2017/08/12/zacks-analysts-anticipate-syntel-inc-synt-will-announce-quarterly-sales-of-218-24-million.html.

About Syntel

Syntel, Inc (Syntel) is a global provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. The Company operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom.

Get a free copy of the Zacks research report on Syntel (SYNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Syntel (NASDAQ:SYNT)

Receive News & Ratings for Syntel Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syntel Inc. and related companies with MarketBeat.com's FREE daily email newsletter.