Zacks: Analysts Anticipate Syntel, Inc. (SYNT) Will Announce Quarterly Sales of $218.24 Million
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.
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.
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